Is there a technological fix for the current global stagnation?

Bengt-Åke Lundvall

Research Policy, 2017, vol. 46, issue 3, 544-549

Abstract: Daniele Archibugi asks whether the 2007–8 financial and economic crisis was brought about by the exhaustion of the current techno-economic paradigm, and whether a new paradigm will lead to eventual recovery. My answer to both questions is ‘No’. Whilst it is useful to think in terms of techno-economic paradigms to understand the uneven process of technological and social advancement, the main reason for the crisis and the main requirement for a new upswing are both socio-political rather than technological in nature. There is a link between the neoliberal deregulation regime that led to the crisis and ICTs. This regime might actually slow down the formation of a new techno-economic paradigm based around Blade Runner technologies such as genetic engineering, artificial intelligence and nanotechnology.

Keywords: Technological revolutions; Economic crisis; Techno-economic paradigms; Social acceptability; Regulatory regimes (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:46:y:2017:i:3:p:544-549

DOI: 10.1016/j.respol.2016.06.011

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