The Future of Economic Growth: As New Becomes Old (The Saint-Gobain Centre for Economic Studies Series)

The author brings significant and fresh insight into efforts to situate the meaning of the digital transformation through which we are living. With analytic discipline and historical perspective, Boyer provides an important interpretation that will be valuable to scholar and teacher, and those who lived through it. This Book Examines The Driving Forces Behind Growth During The Previous Decade, Paying Particular Attention To The Strengths And Weaknesses Of The 'new Economy'. How Has The 'new Ecoomy' Become Old? In Retrospect, What Is The Future Of Economic Growth? These Are The Two Questions That Are Addressed. A Shared Vision 1 -- Beyond The Myths 2 -- A Kaleidoscopic Approach 3 -- 1 A Social Construct And An Analytical Challenge 5 -- The American Economy In The 1990s Was No Longer The Same As That In The 1960s 5 -- Combining Micro- And Macroeconomics, History And Geography 8 -- The Difficulty Of Analysing Structural Changes In Real Time 9 -- 2 Microeconomic Instability And An Uncertain Organizational Model 14 -- Digitalized Information And Redundant Networks 14 -- The Three Figures Of The 'new Economy' 17 -- The Search For An Organizational Model For The 'new Economy' 19 -- 3 A Growth Regime Driven By Information And Communications Technology? 26 -- The New And The Old Economies: A Conjunction Of Two Virtuous Circles? 26 -- The Solow Paradox Has Not Been Entirely Resolved Yet 28 -- Faster Potential Growth: Problems With Forecasting 33 -- The 'new Economy' Has Had Different Effects On Different Sectors 36 -- 4 Genealogy Of The 'new Economy': The Institutional Change At The Heart Of The Us Trajectory 44 -- 1973-2000: The Long Search For Successors To The Fordist Growth Regime 44 -- An Early Deregulation Of The Product Market 51 -- Increasingly Competitive Labour Markets 53 -- Ict As A Way Of Overcoming Management Problems In Large Companies 55 -- The Peace Dividend 57 -- A New Architecture For Economic Policy 58 -- Multiform Financial Innovations 60 -- Internationalization Underpinned Internal Us Dynamics 62 -- Should Other Countries Adopt The Institutional Architecture Of The Usa? 63 -- 5 The Geography Of The 'new Economy': The Diversity Of Institutional Architectures 65 -- Ict At The Heart Of The Technological Change Process 65 -- Pre-conditions For Virtuous Growth: Two Configurations 68 -- Was The Us Configuration Exemplary Or Just Singular? 70 -- Three Institutional Configurations 71 -- Is It Necessary To Produce Ict In Order To Know How To Use Them? 73 -- 6 2000-2002: Reassessing The Potential Of Ict-driven Growth 77 -- The Internet Bubble: From Boom To Burst 77 -- Traders And Economists Forget The Lessons Of History At Their Own Peril 86 -- Consecutive Technological Paradigms Do Not Resemble One Another 90 -- 7 The Long-term Historical Outlook After The Internet Bubble 101 -- Overestimating Ict's Role 101 -- The End Of Three Major Myths 105 -- Inequalities Within And Between Countries: Down With Technological Determinism 107 -- An Uncertain Mode Of Regulation 109 -- The Opposition Between The Old And The New Economy Is Obsolete 115 -- 8 The Emergence Of An Anthropogenetic Model 120 -- 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 Model 136 -- The Future Lasts For A Long Time 145 -- Behind The Success Of The 'new Economy': A Crisis Already In The Making 145 -- Multiform Institutional Changes Rather Than Technological Determinism 147 -- The Geography Of The 'new Economy' Actually Includes The Nordic Countries 147 -- Ict Is Already A Mature Industry 148 -- The Power Of Wall Street Instead Of Silicon Valley 149 -- Altered Competition But No Return To Mythical Competitive Markets 150 -- Between Speculation And Utopia: The Anthropogenetic Model 151. Robert Boyer. Translation Of: La Croissance Début De Siècle. Includes Bibliographical References And Index. Contents......Page 6 List of Figures......Page 9 List of Graphs and Boxes......Page 10 List of Tables......Page 11 Preface to the English edition......Page 12 Acknowledgements......Page 18 A shared vision......Page 20 Beyond the myths......Page 21 A kaleidoscopic approach......Page 22 The American economy in the 1990s was no longer the same as that in the 1960s......Page 24 Combining micro- and macroeconomics, history and geography......Page 27 The difficulty of analysing structural changes in real time......Page 28 Conclusion......Page 32 Digitalized information and redundant networks......Page 33 The three figures of the 'new economy'......Page 36 The search for an organizational model for the 'new economy'......Page 38 Conclusion......Page 44 The new and the old economies: a conjunction of two virtuous circles?......Page 45 The Solow paradox has not been entirely resolved yet......Page 47 Faster potential growth: problems with forecasting......Page 52 The 'new economy' has had different effects on different sectors......Page 55 Conclusion......Page 61 1973–2000: the long search for successors to the Fordist growth regime......Page 63 An early deregulation of the product market......Page 70 Increasingly competitive labour markets......Page 72 ICT as a way of overcoming management problems in large companies......Page 74 The peace dividend......Page 76 A new architecture for economic policy......Page 77 Multiform financial innovations......Page 79 Internationalization underpinned internal US dynamics......Page 81 Should other countries adopt the institutional architecture of the USA?......Page 82 Conclusion......Page 83 ICT at the heart of the technological change process......Page 84 Pre-conditions for virtuous growth: two configurations......Page 87 Was the US configuration exemplary or just singular?......Page 89 Three institutional configurations......Page 90 Is it necessary to produce ICT in order to know how to use them?......Page 92 Conclusion......Page 94 The Internet bubble: from boom to burst......Page 96 Traders and economists forget the lessons of history at their own peril......Page 105 Consecutive technological paradigms do not resemble one another......Page 109 Conclusion......Page 118 Overestimating ICT's role......Page 120 The end of three major myths......Page 124 Inequalities within and between countries: down with technological determinism......Page 126 An uncertain mode of regulation......Page 128 The opposition between the old and the new economy is obsolete......Page 134 Conclusion......Page 137 ICT as the vector of real-time management?......Page 139 Moving towards a network economy?......Page 143 The transition towards a knowledge economy?......Page 147 In the long run: an anthropogenetic model......Page 155 Conclusion......Page 162 Behind the success of the 'new economy': a crisis already in the making......Page 164 The geography of the 'new economy' actually includes the Nordic countries......Page 166 ICT is already a mature industry......Page 167 The power of Wall Street instead of Silicon Valley......Page 168 Altered competition but no return to mythical competitive markets......Page 169 Between speculation and utopia: the anthropogenetic model......Page 170 Bibliography......Page 172 C......Page 187 F......Page 188 I......Page 189 M......Page 190 P......Page 191 S......Page 192 W......Page 193 The Work Is Thought Provoking In Its Analytical Part And Is Also Stimulating In Its Normative-political End, Which Advocates An Institutional Architecture Wherein Growth In A Knowledge-based Economy Could Be Driven By Collective Services Such As Health And Education. . . A Challenging Interpretation Of The Contemporary Political Economy. Giovanni Dosi, Journal Of Economic Literature How Significant Was The Internet Boom And Bust? Robert Boyer Brings Significant And Fresh Insight To Efforts To Situate The Meaning Of The Digital Transformation Through Which We Are Living. With Analytic Discipline And Historical Perspective, Boyer Provides An Important Interpretation That Will Be Valuable To Scholar And Teacher, Those Just Curious About The Internet Development And Those Who Lived Through It. John Zysman, University Of California, Berkeley, Us In This Book, Robert Boyer Follows The Origins, Course And Collapse Of The New Economy And Proposes A New Interpretation Of Us Dynamism During The 1990s. He Argues That The Diffusion Of Information And Communication Technologies Is Only Part Of A Story That Also Requires Understanding Of The Transformation Of The Financial System, The Reorganization Of The Management Of Firms And The Emergence Of A New Policy Mix. The Book Includes A Long-term Retrospective Analysis Of Technological Innovation, And An International Comparison Of Oecd Countries Delivers An Unconventional And Critical Assessment Of The Hope And The Hype Of The New Economy . The Book Proposes That The Us Way Is Not Necessarily The Only Efficient One, As Demonstrated By The Experience Of The Nordic Countries, Which Manage To Combine Economic Efficiency With Social Justice. The Author Argues That European Economies Would Do Well To Take Note And To Explore A Promising Growth Regime For The Twenty-first Century, One Built Upon Health, Education, Training And Leisure, This Comprising The Anthropogenetic Model . The Future Of Economic Growth Is A Challenging And Thought-provoking Book, And As Such Will Be Of Interest To Many Academics, Researchers And Students Within The Field Of Economics. It Will Be Particularly Relevant To Those With An Interest In Macroeconomics, Industrial Organisation And The Theory Of The Firm, And Growth Theory.