Latest Development and the Political Outlook for Innovation Technology as a Key Factor in Economic Policy: New Trends of Linking Research and Technological Development: Paper presented at 4th Joint Seminar between EU and Korea on Science and Technology (September 26th to October 2nd 1998, Daejeon, Korea) "Economic Aspects of Research, Development and Technology Transfer"

A first analysis of the social costs of competing technologies for electric power generation published in 1988 has induced a rather controversial scientific discussion about the magnitude and the possible ways to incorporate cost elements not included in energy prices today in decisions on energy systems. Different research projects following up a number of controversial or unanswered questions in the field of social costs have been started in the FRG, in Europe and Overseas. The author summarizes the latest results of the international scientific discussion and research and sketches possible future trends in this field of research and the practical and political implementation of its results. The author concludes that the figures calculated in 1988 have been underestimating the magnitude of the costs not included in the energy prices and that new calculations including further results on CO/sub 2/ lead to significantly higher figures