The Future of Economic Growth: As New Becomes Old

The Future of Economic Growth: As New Becomes Old

by Robert Boyer
     
 

ISBN-10: 1843766078

ISBN-13: 9781843766070

Pub. Date: 04/01/2004

Publisher: Elgar, Edward Publishing, Inc.

Product Details

ISBN-13:
9781843766070
Publisher:
Elgar, Edward Publishing, Inc.
Publication date:
04/01/2004
Series:
Saint-Gobain Centre for Economic Studies
Pages:
174
Product dimensions:
6.18(w) x 9.24(h) x 0.58(d)

Table of Contents

List of Figuresviii
List of Graphs and Boxesix
List of Tablesx
Preface to the English editionxi
Acknowledgementsxvii
Introduction1
A shared vision1
Beyond the myths2
A kaleidoscopic approach3
1A social construct and an analytical challenge5
Introduction5
The American economy in the 1990s was no longer the same as that in the 1960s5
Combining micro- and macroeconomics, history and geography8
The difficulty of analysing structural changes in real time9
Conclusion13
2Microeconomic instability and an uncertain organizational model14
Introduction14
Digitalized information and redundant networks14
The three figures of the 'new economy'17
The search for an organizational model for the 'new economy'19
Conclusion25
3A growth regime driven by information and communications technology?26
Introduction26
The new and the old economies: a conjunction of two virtuous circles?26
The Solow paradox has not been entirely resolved yet28
Faster potential growth: problems with forecasting33
The 'new economy' has had different effects on different sectors36
Conclusion42
4Genealogy of the 'new economy': the institutional change at the heart of the US trajectory44
Introduction44
1973-2000: the long search for successors to the Fordist growth regime44
An early deregulation of the product market51
Increasingly competitive labour markets53
ICT as a way of overcoming management problems in large companies55
The peace dividend57
A new architecture for economic policy58
Multiform financial innovations60
Internationalization underpinned internal US dynamics62
Should other countries adopt the institutional architecture of the USA?63
Conclusion64
5The geography of the 'new economy': the diversity of institutional architectures65
Introduction65
ICT at the heart of the technological change process65
Pre-conditions for virtuous growth: two configurations68
Was the US configuration exemplary or just singular?70
Three institutional configurations71
Is it necessary to produce ICT in order to know how to use them?73
Conclusion75
62000-2002: reassessing the potential of ICT-driven growth77
Introduction77
The Internet bubble: from boom to burst77
Traders and economists forget the lessons of history at their own peril86
Consecutive technological paradigms do not resemble one another90
Conclusion99
7The long-term historical outlook after the Internet bubble101
Introduction101
Overestimating ICT's role101
The end of three major myths105
Inequalities within and between countries: down with technological determinism107
An uncertain mode of regulation109
The opposition between the old and the new economy is obsolete115
Conclusion118
8The emergence of an anthropogenetic model120
Introduction120
ICT as the vector of real-time management?120
Moving towards a network economy?124
The transition towards a knowledge economy?128
In the long run: an anthropogenetic model136
Conclusion143
9Conclusion145
The future lasts for a long time145
Behind the success of the 'new economy': a crisis already in the making145
Multiform institutional changes rather than technological determinism147
The geography of the 'new economy' actually includes the Nordic countries147
ICT is already a mature industry148
The power of Wall Street instead of Silicon Valley149
Altered competition but no return to mythical competitive markets150
Between speculation and utopia: the anthropogenetic model151
Bibliography153
Index168

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