(Download) "Is the Next Economy Taking Shape? the United States Needs to Be Preparing Now for What It Will Do when the Computer-Driven New Economy Loses Momentum (New HORIZONS FOR A FLAT WORLD)" by Issues in Science and Technology ~ eBook PDF Kindle ePub Free
eBook details
- Title: Is the Next Economy Taking Shape? the United States Needs to Be Preparing Now for What It Will Do when the Computer-Driven New Economy Loses Momentum (New HORIZONS FOR A FLAT WORLD)
- Author : Issues in Science and Technology
- Release Date : January 01, 2006
- Genre: Engineering,Books,Professional & Technical,
- Pages : * pages
- Size : 405 KB
Description
Recent economic trends, including a massive trade deficit, declining median incomes, and relatively weak job growth, have been, to say the least, somewhat disheartening. But there is one bright spot: strong productivity growth. Starting in the mid-1990s, productivity has rebounded after 20 years of relatively poor performance. Why has productivity grown so much? Why did it fall so suddenly in the 1970s and 80s? Is this latest surge likely to last? Understanding the answers to these questions goes to heart of understanding the prospects for future U.S. prosperity Unfortunately, economists have provided few answers, largely because conventional neoclassical growth models ignore technological innovation. In contrast, a "neo-Schumpetarian" analysis suggests that the revival and stagnation of productivity are tied to the emergence and subsequent exhaustion of new techno-economic production systems. When an old economy reaches its limits in terms of innovation and the diffusion of the technology system, it becomes increasingly difficult to eke out productivity gains. Only when a new technology system becomes affordable enough and pervasive enough is it able to revitalize the engine of productivity. This analysis suggests that although the current information technology (IT)-based technology system is likely to continue to drive strong productivity growth for at least another decade, an innovation-exhaustion slowdown may be just over the horizon.
 "Is the Next Economy Taking Shape? the United States Needs to Be Preparing Now for What It Will Do when the Computer-Driven New Economy Loses Momentum (New HORIZONS FOR A FLAT WORLD)" by Issues in Science and Technology ~ eBook PDF Kindle ePub Free){kind=link}