technological revolution was breaking old habits. Techno-economic paradigms consist of two parts. It is an ‘economic’ best practice because each technological transformation brings with it a major shift in the relative price structure that guides economic agents toward the intensive use of the more powerful new inputs and technologies. It is a ‘paradigm,’ because it defines the model and the territory for ‘normal’ innovative practice, promising success to those that follow the principles incarnate in the core industries of the revolution. Each technological revolution comes with new industries, products, and infrastructures that help to shape the new set of innovative practices (techno-economic paradigms) which in turn helps different stakeholders to make better decisions during the time period that the set of technologies is relevant. It is a best-practice model for applying a particular technological revolution in the most effective way and when it is adopted by the majority it becomes a common-sense or new normal base to organize activities and institutions. Social and financial aspects of techno-economic paradigm shifts In order for the techno-economic paradigm to take effect, changes have to happen within the society. The new technology that comes with the technological revolution has to be accepted by society. The new products, the new services have to have consumers and users, without them the innovative technology would not take over and become a technological revolution that needs a new set of rules and common sense bases to organize the activities. The changes in technology will eventually bring changes in governance, society, ideologies, and culture, they will include changes in regulatory frameworks affecting markets and economic activities, they will redesign a whole lot of institutions (government organizations, companies), there will be a need for new financial regulations and education. Society is opposed to the new set of rules and ways of doing things, even though they were received as a bright new set of opportunities because it is recognized as a threat to the established way of doing things in society, firms, and institutions The changes are faster in the economy because there the profits and growth are driving the change, it is not the case within the society. The blockage is caused by routine, ideology, and vested interests and that takes time to change. The social tensions are even multiplied by great social costs in the form of lost jobs and skills as well as moving operations from one