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Location: Home / Technology / The Puzzling Economic Impact of Transformative Technologies

The Puzzling Economic Impact of Transformative Technologies

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ByIrving Wladawsky-Berger

As we’ve learned over the past two centuries, there’s generally been a significant lag between the broad acceptance of a major new transformative technology and its impact on companies, governments and other institutions. It can take decades for new technologies and business models to be embraced across economies and societies and for their full benefits to be realized.

The Puzzling Economic Impact of Transformative Technologies

"The Productivity J-Curve," a working paper published by the National Bureau of Economic Research, seeks to explain the lag affecting so-called general-purpose technologies—think the steam engine, electricity, or the internet—capable of rewriting the global economy.

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