Automation, Innovation and Economic Crisis


Book Description

The fourth industrial revolution is developing globally, with no geographical centre. It is also taking place at enormous speed. This development will shape the workplaces of the future, which will be entirely different from the workplaces created by the first, second and third industrial revolutions. Industry created the industrial worker. The knowledge society will create a new type of "industrial worker", the knowledge worker. While the third industrial revolution was concerned with the digitalization of work, in the fourth industrial revolution, robots will bring about the informatization of work. Many of these robots will be systematically connected, such that they can obtain updated information and learn from their own and others’ mistakes. The way we work, where we work, what we work on, and our relationships with our colleagues and employers are all in a state of change. The workplace of the future will not necessarily be a fixed geographical location, but may be geographically distributed and functionally divided. In his book, Jon-Arild Johannessen argues that a "perfect" social storm occurs when inequality grows at a catastrophic rate, unemployment increases, job security is threatened for a growing number and robotization takes over even the most underpaid jobs. Thus, the ingredients for a perfect social storm will be brought forward by cascades of innovations that will most likely lead to economic and social crises and he argues that it is reasonable to assume that it will only take a small spark for this social storm to develop into a social revolution.




Innovation and Economic Crisis


Book Description

The recent financial and economic crisis has spurred a lot of interest among scholars and public audience. Strangely enough, the impact of the crisis on innovation has been largely underestimated. This books can be regarded as a complementary reading for those interested in the effect of the crisis with a particular focus on Europe.




Innovations Lead to Economic Crises


Book Description

This book examines the link between innovation and economic crises through a systemic philosophy of economic history. Taking the end of the Roman Empire as its starting point, the author guides readers through six economic crises that have occurred up to the present day and uncovers how these may have been triggered by a number of political, economic and technological innovations. The author presents analyses on the Dutch tulip bubble of 1637, the Mississippi bubble in eighteenth-century France, the development of the first limited liability company and the world’s first stock exchange before going on to discuss the latest economic crisis and its links with globalisation and social connectivity following the technological advancement of the internet. The author concludes by explaining how we can use knowledge of the links between innovation and crises to frame a vital new model for policy makers and political leaders. The result is a fascinating insight into the cause of economic crises which will be of particular interest to students and researchers of economic history, financial crises, innovation and political science.




Innovation Strategies for a Global Economy


Book Description

Provides an agenda for future work on activities to improve understanding of innovation strategies in the medium and short term.




Financial Innovation


Book Description

Prominent economists consider the role of financial innovation in economic crises.







State of Innovation


Book Description

The worst economic crisis since the Great Depression has generated a fundamental re-evaluation of the free-market policies that have dominated American politics for three decades. State of Innovation brings together critical essays looking at the 'innovation industry' in the context of the current crisis. The book shows how government programs and policies have underpinned technological innovation in the US economy over the last four decades, despite the strength of 'free market' political rhetoric. The contributors provide new insights into where innovations come from and how governments can support a dynamic innovation economy as the US recovers from a profound economic crisis. State of Innovation outlines a 21st century policy paradigm that will foster cutting-edge innovation which remains accountable to the public.




The Keystone Advantage


Book Description

Today, many companies operate within a complex network of firms that all depend on each other for success. In this book, authors Marco Iansiti and Roy Levien use the powerful example of biological ecosystems to show how companies can leverage these emerging business networks for long-term success. The book's title, "The Keystone Advantage", is taken directly from biology - it refers to "keystone species", which proactively maintain the healthy functioning of their entire ecosystem for a simple reason: their own survival depends on it. In the same way, say the authors, companies can protect and ensure their own success by deliberately fostering the combined health of the network they operate in.




Doing Capitalism in the Innovation Economy


Book Description

A unique insight into the interaction between the state, financiers and entrepreneurs in the modern innovation economy.




Bubbles and Crashes


Book Description

“An interesting take on some factors that facilitate the development and bursting of bubbles in technology industries. . . . Highly recommended.” —Choice Financial market bubbles are recurring, often painful, reminders of the costs and benefits of capitalism. While many books have studied financial manias and crises, most fail to compare times of turmoil with times of stability. In Bubbles and Crashes, Brent Goldfarb and David A. Kirsch give us new insights into the causes of speculative booms and busts. They identify a class of assets—major technological innovations—that can, but does not necessarily, produce bubbles. This methodological twist is essential: Only by comparing similar events that sometimes lead to booms and busts can we ascertain the root causes of bubbles. Using a sample of eighty-eight technologies spanning 150 years, Goldfarb and Kirsch find that four factors play a key role in these episodes: the degree of uncertainty surrounding a particular innovation; the attentive presence of novice investors; the opportunity to directly invest in companies that specialize in the technology; and whether or not a technology is a good protagonist in a narrative. Goldfarb and Kirsch consider the implications of their analysis for technology bubbles that may be in the works today, offer tools for investors to identify whether a bubble is happening, and propose policy measures that may mitigate the risks associated with future speculative episodes.