Has the ICT Revolution Run its Course?

Kenneth Carlaw (), Richard Lipsey () and Ryan Webb ()
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Kenneth Carlaw: University of British Columbia - Okanagan
Richard Lipsey: Simon Fraser University, http://www.sfu.ca/~rlipsey
Ryan Webb: Queen's University

Discussion Papers from Department of Economics, Simon Fraser University

Abstract: We 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.

Keywords: ICT revolution; diffusion; electronic computers; internet; general purpose technologies. (search for similar items in EconPapers)
JEL-codes: O33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ict
Date: 2007-09

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