Wired for innovation : how information technology is reshaping the economy /
Erik Brynjolfsson and Adam Saunders.
- 1 PDF (176 pages).
Includes bibliographical references and index.
Technology, innovation, and productivity in the information age -- Measuring the information economy -- IT's contributions to productivity and economic growth -- Business practices that enhance productivity -- Organizational capital -- Incentives for innovation in the information economy -- Consumer surplus -- Frontier research opportunities.
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A wave of business innovation is driving the productivity resurgence in the U.S. economy. In Wired for Innovation, Erik Brynjolfsson and Adam Saunders describe how information technology directly or indirectly created this productivity explosion, reversing decades of slow growth. They argue that the companies with the highest level of returns to their technology investment are doing more than just buying technology; they are inventing new forms of organizational capital to become digital organizations. These innovations include a cluster of organizational and business-process changes, including broader sharing of information, decentralized decision-making, linking pay and promotions to performance, pruning of non-core products and processes, and greater investments in training and education.Innovation continues through booms and busts. This book provides an essential guide for policy makers and economists who need to understand how information technology is transforming the economy and how it will create value in the coming decade.