Technology Change and the Rise of New Industries explores why new industries emerge at specific moments in time and in certain countries. Part I shows that technologies which experience -exponential- improvements in cost and performance have a greater chance of becoming new industries. When -low-end- discontinuities incur exponential improvements, they often displace the dominant technologies and become -disruptive- innovations. Part II explores this phenomenon and instances in which discontinuities spawn new industries because they impact higher-level systems. Part III addresses a...