Has the ICT Revolution Run its Course?
AbstractWe assess the contention that the force of the ICT revolution was spent when the dotcom bubble burst. We identify the fundamental principle of flexible machine logic, the use of which distinguishes the group of modern ICTs - the electronic computer, the Internet and some related technologies - that make up the GPT of programmable computing networks (PCNs) and that have driven the ICT revolution. We seek to place PCN on two logistic trajectories that describe its evolving efficiency and applications. To gain some perspective, we then compare the evolution of PCN with that of electricity. We argue that PCN still has significant scope for increasing its efficiency and that it is still creating an undiminished flow of new applications, concluding that the force of the ICT revolution will continue for some decades.
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Bibliographic InfoPaper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number dp07-18.
Date of creation: Sep 2007
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Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Web page: http://www.sfu.ca/economics.html
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Postal: Working Paper Coordinator, Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Find related papers by JEL classification:
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
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