Wired for Innovation: How Information Technology Is Reshaping the Economy
AbstractA wave of business innovation is driving the productivity resurgence in the U.S. economy. In Wired for Innovation, Erik Brynjolfsson and Adam Saunders describe how information technology directly or indirectly created this productivity explosion, reversing decades of slow growth. They argue that the companies with the highest level of returns to their technology investment are doing more than just buying technology; they are inventing new forms of organizational capital to become digital organizations. These innovations include a cluster of organizational and business-process changes, including broader sharing of information, decentralized decision-making, linking pay and promotions to performance, pruning of non-core products and processes, and greater investments in training and education. Brynjolfsson and Saunders go on to examine the real sources of value in the emerging information economy, including intangible inputs and outputs that have defied traditional metrics. For instance, intangible organizational capital is not directly observable on a balance sheet yet amounts to trillions of dollars of value. Similarly, such nonmarket transactions of information goods as Google searches or views of Wikipedia articles are an increasingly large share of the economy yet virtually invisible in the GDP statistics. Drawing on work done at the MIT Center for Digital Business and elsewhere, Brynjolfsson and Saunders explain how to better measure the value of technology in the economy. They treat technology as not just another type of ordinary capital investment by also focusing on complementary investments--including process redesign, training, and strategic changes--and ton he value of product quality, timeliness, variety, convenience, and new products. Innovation continues through booms and busts. This book provides an essential guide for policy makers and economists who need to understand how information technology is transforming the economy and how it will create value in the coming decade.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoThis book is provided by The MIT Press in its series MIT Press Books with number 0262518611 and published in 2013.
Contact details of provider:
Web page: http://mitpress.mit.edu
information science; information technology; business economics; innovation policy;
Other versions of this item:
- Brynjolfsson, Erik, 2011. "Wired for Innovation: How Information Technology Is Reshaping the Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262013666, January.
- Erik Brynjolfsson & Adam Saunders, 2009. "Wired for Innovation: How Information Technology is Reshaping the Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262013665.
- K2 - Law and Economics - - Regulation and Business Law
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
- Z1 - Other Special Topics - - Cultural Economics
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Hätönen, Jussi, 2011. "The economic impact of fixed and mobile high-speed networks," EIB Papers 7/2011, European Investment Bank, Economics Department.
- Van Reenen, John, 2011.
"Wage inequality, technology and trade: 21st century evidence,"
Elsevier, vol. 18(6), pages 730-741.
- John Van Reenen, 2011. "Wage Inequality,Technology and Trade: 21st Century Evidence," CEP Occasional Papers 28, Centre for Economic Performance, LSE.
- Carol A. Corrado & Charles R. Hulten, 2013.
in: Measuring Economic Sustainability and Progress
National Bureau of Economic Research, Inc.
- Che, Natasha Xingyuan, 2009.
"Sectoral Structural Change in a Knowledge Economy,"
19653, University Library of Munich, Germany.
- Strauss, Hubert & Samkharadze, Besik, 2011. "ICT capital and productivity growth," EIB Papers 6/2011, European Investment Bank, Economics Department.
- Brynjolfsson, Erik, 2011. "ICT, innovation and the e-economy," EIB Papers 8/2011, European Investment Bank, Economics Department.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jake Furbush).
If references are entirely missing, you can add them using this form.