EconPapers    
Economics at your fingertips  
 

Adaptive Social Innovation Derived from Digital Economy and Its Impact on Society and Policy

Min-Hyuk Cho () and Chan-Goo Yi ()
Additional contact information
Min-Hyuk Cho: The Institute of National Public Policy, Chungnam National University, Daejeon 305764, Korea
Chan-Goo Yi: Department of Public Administration, Chungnam National University, Daejeon 305764, Korea

Sustainability, 2022, vol. 14, issue 6, 1-20

Abstract: The traditional concept of innovation focuses on significant changes in products and services. However, today’s innovation derived from the digital economy environment is transforming our way of life, values, and even social relations. The economic benefits of the digital economy and technology have a wide range of impacts derived from the rapid socio-economic transformation. The negative impact on jobs and incomes is a typical problem that threatens socioeconomic fundamentals. This phenomenon is the reason that we must have a new perspective about innovation that connects technology, economy, society and policy beyond the traditional perspective. Based on the new perspective, this study categorizes social innovations using an expanded concept. One of them is “adaptive social innovation”, and this study focuses on its key motive and impact. In this paper, a theoretical discussion is adopted from integrating discussions in macroeconomics, social psychology, political science, etc. The key motive can be found in transformation of production, consumption, and distribution due to the digital economy. Based on this, the detailed operation mechanism of adaptive social innovation that transforms public perceptions and systems are analysed. At the same time, the process in which formal institutions and the output of adaptive social innovation, affect society and policy was explored.

Keywords: social innovation; digital economy; institutional transformation; adaptive institution; social mechanism (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.mdpi.com/2071-1050/14/6/3408/pdf (application/pdf)
https://www.mdpi.com/2071-1050/14/6/3408/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:14:y:2022:i:6:p:3408-:d:770954

Access Statistics for this article

Sustainability is currently edited by Ms. Hayley Chen

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().

 
Page updated 2022-05-13
Handle: RePEc:gam:jsusta:v:14:y:2022:i:6:p:3408-:d:770954