Digital Revolution
Bounty and Spread
Digital Revolution
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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
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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
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- 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
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- 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
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- 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"?