Innovation and democracy: the twin paradoxes

The 'innovation paradox' refers to the coexistence in the West over the last five decades of a steady decrease in the growth of productivity with the increase in the quantity of available information. These trends, which started with the invention of the internet, call for revisiting mains...

Full description

Saved in:

Bibliographic Details
Published in:	Area development and policy Vol. 5; no. 3; pp. 233 - 255
Main Authors:	Grillo, Francesco, Nanetti, Raffaella
Format:	Journal Article
Language:	English
Published:	Routledge 02.07.2020
Subjects:	China democracia liberal economía institucional información information innovación innovation institutional economics internet liberal democracy liberalism liberalismo países occidentales productividad productivity progreso tecnológico technological progress Western countries западные страны инновации институциональная экономика интернет информациятехнический прогресс Китай либерализм либеральная демократия производительность труда 中国互联网信息创新制度经济学技术进步生产力自由主义自由民主西方国家
ISSN:	2379-2949, 2379-2957
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

Description
Summary:	The 'innovation paradox' refers to the coexistence in the West over the last five decades of a steady decrease in the growth of productivity with the increase in the quantity of available information. These trends, which started with the invention of the internet, call for revisiting mainstream endogenous growth theory in an age dominated by information and communication technology. The weakness of the arguments used to justify the paradox, the unorthodox comparison with China and the history of the industrial revolutions point to the technological obsolescence of liberal democracy as the real explanation for the paradox. A debate on how to adapt Western institutions to a radically new context is launched.
ISSN:	2379-2949 2379-2957
DOI:	10.1080/23792949.2020.1777880