Towards the Digital Economy

Author(s) : Salvino A. Salvaggio & Michel Bauwens

Bibliographic Details : Brussels : Observatory of the DIgital Economy

Date of Publication : 1999

Executive Summary : How real is the digital economy and how does it fit into the broader political economy of our times ?
The first chapter notes the frenetic pace of innovation which is so characteristic of the digital economy and the strains it causes in the business world. It examines how the measurement and accounting systems of individual countries have coped with the stresses. The pace of change is also such that classic corporate planning methods may no longer be appropriate. The second chapter analyses in deeper detail the previsionary methods in corporations and how well they cope with the fundamental shift from a economy of scarce goods to an economy of overabundant information. The third chapter examines in greater detail the particular characteristics of such an economy of abundance while the fourth chapter points to the need for a new theoretical foundation which is able to describe the new digital realities in terms of a real and updated economic science, something which the classical economic framework may not be able to do without some changes in its logical framework. The report concludes with a bibliography of governmental studies of the impact of the digital economy on national economic accounting.

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