Chapter 2: Digital and Technical Transformation

Torben M. Andersen, Giuseppe Bertola, Cecilia Garcia-Penalosa, Clemens Fuest, Harold James, Jan-Egbert Sturm and Branko Uroševic

EEAG Report on the European Economy, 2020, 38-55

Abstract: Chapter 2 reviews the rapid digital and technological transformation of recent decades. Compa­nies with digital business models, mostly operating in high­technology industries, have revolutionized the way we live, work, and do business. US companies like Facebook, Apple, Uber, Google, Amazon, and Microsoft started out as small start­up companies and now share most of the market capitalization among themselves. Due to China’s technology investments, this type of organization has emerged there as well, leaving Europe (relatively) behind.

Date: 2020
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