Digital Revolution

Bounty and Spread

Digital Revolution 

Bounty and spread

Brynjolfsson, E., & McAfee, A. (2014). The second machine age: Work, progress, and prosperity in a time of brilliant technologies. WW Norton & Company.

Digital Revolution 

Bounty is the reward...

  • The digital revolution paths the way to (unlimited) economic growth (second half of the chessboard),
  • building blocks enable manifold innovation by recombination,
  • digitization makes information (and education) accessible for the world,
  • automation and AI allows us to focus less on repetitive and more on creative tasks.

Brynjolfsson, E., & McAfee, A. (2014). The second machine age: Work, progress, and prosperity in a time of brilliant technologies. WW Norton & Company.

Digital Revolution 

  • While the economy grows, average income stagnates,
  • "winner-takes it all economies" reward the only "super-stars",
  • skewed access to technology facilitates economic disadvantages,
  • radical societal change fuels radical political ideologies.

... spread is the divide

Brynjolfsson, E., & McAfee, A. (2014). The second machine age: Work, progress, and prosperity in a time of brilliant technologies. WW Norton & Company.

Digital Revolution 

Encourage the bounty

  • Do we need to remeasure productivity, growth, and work in the future?
  • Should pupils learn more Python and less Platon?
  • Could Austria become a hub for the (sustainable) peer economy?
  • Should we restart local startups or invite the world's talents (or both)?

Digital Revolution 

Diminish the spread

  • Can we estimate job substitution in the next 10, 20, 30 years from now?
  • What are the things machines can't do (and maybe never will)?
  • Do we need a guaranteed universal income or negative income taxes?
  • Shall we tax the rich or the machines, or do it the "Pigovian way"?
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