Introduction

Abstract

Individuals in every society derive certain meaning or value from their lives. That meaning is individualized and varies from one person to another, and it constitutes that particular individual’s quality of life (Skevington 2002). As societies advance and become more sophisticated, inventive minds imagine and create new things, which we call innovations, to make consumers’ lives better, easier, and, it is hoped, more enjoyable. From the wheel to penicillin and to the computer, and many others, each and every major development has changed and continues changing how people live and work in societies (Demirdjian 2010). However, the rate of change and progress created by these innovations is not the same in every country. It is hypothesized that “productivity growth rates tend to vary inversely with productivity levels” (Abramovitz 1986), implying that economically less developed countries have a greater opportunity to catch up and forge ahead than do industrialized countries.