A few misfits can Change the World

Esteve Almirall, Steve Willmott and Ulises Cort\'es

Papers from arXiv.org

Abstract: Rising inequality is a critical concern for societies worldwide, to the extent that emerging high-growth economies such as China have identified common prosperity as a central goal. However, the mechanisms by which digital disruptions contribute to inequality and the efficacy of existing remedies such as taxation, must be better understood. This is particularly true for the implications of the complex process of technological adoption that requires extensive social validation beyond weak ties and, how to trigger it in the hyperconnected world of the 21st century. This study aims to shed light on the implications of market evolutionary mechanism from the lenses of technological adoption as a social process. Our findings underscore the pivotal importance of connectivity in this process while also revealing the limited effectiveness of taxation as a counterbalance for inequality. Our research reveals that widespread cultural change is not a prerequisite for technological disruption. The injection of a small cohort of entrepreneurs - a few misfits - can expedite technology adoption even in conservative, moderately connected societies and, change the world.

Date: 2023-09, Revised 2023-09
New Economics Papers: this item is included in nep-cna, nep-ger and nep-net
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