The Challenge

Pontus Braunerhjelm and Magnus Henrekson ()

Chapter Chapter 1 in Unleashing Society’s Innovative Capacity, 2024, pp 1-28 from Springer

Abstract: Abstract During recent years, challenges have emerged on an unprecedented scale, affecting nearly all the countries of the globe: climate change, energy supply, geopolitical tensions, protectionist measures, demographic changes, and a seemingly infinite demand for human capital, to mention but a few. Until recently, the most compelling challenge seemed to be increased globalization and intensified competition at all stages of the value chain. This threatened the privileged position of industrialized economies and their businesses, prompting measures to enhance efficiency and competitiveness at both the policy and firm levels. Even though the world economy currently seems to be in a phase of decoupling, deglobalization, and increased state intervention, we believe that in the medium to long term, the global economy will continue to embrace openness. Hence, fortune favors the well-prepared, and both countries and businesses are likely to benefit by positioning themselves for a return to the prospect of increasingly competitive markets.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:inschp:978-3-031-42756-5_1

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DOI: 10.1007/978-3-031-42756-5_1

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