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:
- 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, January.
- 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.
- 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.
- Che, Natasha Xingyuan, 2009.
"Sectoral Structural Change in a Knowledge Economy,"
19653, University Library of Munich, Germany.
- Carol A. Corrado & Charles R. Hulten, 2013.
in: Measuring Economic Sustainability and Progress
National Bureau of Economic Research, Inc.
- John Van Reenen, 2011.
"Wage inequality, technology and trade: 21st Century evidence,"
LSE Research Online Documents on Economics
47494, London School of Economics and Political Science, LSE Library.
- Van Reenen, John, 2011. "Wage inequality, technology and trade: 21st century evidence," Labour Economics, 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.
- Strauss, Hubert & Samkharadze, Besik, 2011. "ICT capital and productivity growth," EIB Papers 6/2011, European Investment Bank, Economics Department.
- Hätönen, Jussi, 2011. "The economic impact of fixed and mobile high-speed networks," EIB Papers 7/2011, 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 you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.