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Growth Policies for the High-Tech Economy
In this timely book Gregory Tassey analyzes the comprehensive set of assets and government policies that affect and enhance the technology-based economy. Tassey makes the case for a multi-target, technology-based economic growth strategy with the breadth of coverage required to allocate resources across the range of asset categories needed over the entire cycle of technology development, commercialization, and eventual replacement
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Critical Acclaim
Contents
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In this timely book Gregory Tassey analyzes the assets and government policies that affect and enhance the technology-based economy. Tassey makes the case for a comprehensive technology-based economic growth strategy needed to respond to multi-asset growth strategies being implemented in Europe and Asia.
This insightful book examines the need for a new and broader set of economic policies to end four decades of declining GDP growth, persistent trade deficits, stagnant incomes, and socially disruptive income inequality in the US. Tassey proposes a technology element model which characterizes and assesses the four major asset categories that must comprise emerging technology-based growth policies: investment in research and development, capital formation, skilled labor, and complex technical infrastructures. He emphasizes a range of existing and proposed growth policies that currently or potentially support the rapidly expanding technology-based economy, exploring their management and implications for regional and national government growth policies. These constructs are then integrated into crucial recommendations for supporting emerging policy trends.
Growth Policies for the High-Tech Economy is a key read for students, government policy analysts and scholars of economics, industrial organization, innovation policy and finance. Most important, it is also a vital resource for government analysts and industry managers lobbying for innovative policy changes.
This insightful book examines the need for a new and broader set of economic policies to end four decades of declining GDP growth, persistent trade deficits, stagnant incomes, and socially disruptive income inequality in the US. Tassey proposes a technology element model which characterizes and assesses the four major asset categories that must comprise emerging technology-based growth policies: investment in research and development, capital formation, skilled labor, and complex technical infrastructures. He emphasizes a range of existing and proposed growth policies that currently or potentially support the rapidly expanding technology-based economy, exploring their management and implications for regional and national government growth policies. These constructs are then integrated into crucial recommendations for supporting emerging policy trends.
Growth Policies for the High-Tech Economy is a key read for students, government policy analysts and scholars of economics, industrial organization, innovation policy and finance. Most important, it is also a vital resource for government analysts and industry managers lobbying for innovative policy changes.
Critical Acclaim
‘Gregory Tassey makes an impassioned argument for the U.S. to shift away from the short term economic dead end of monetary policy to a new growth oriented technology investment strategy. At the core of this new strategy are four factors: technology, capital formation (both hardware and software), skilled labor and a range of technical infrastructures. Without significantly growing investment in these factors, a future of rising income inequality and low growth will likely prevail, with profound consequences for our democracy. Tassey makes his strong case clearly and with solid supporting data. Policymakers need to seize these recommendations.’
– William B. Bonvillian, Massachusetts Institute of Technology, US
– William B. Bonvillian, Massachusetts Institute of Technology, US
Contents
Contents
PART I THE NEED FOR A NEW ECONOMIC GROWTH POLICY
1 Globalization and economic decline 2
2 Feeble policy responses that do not increase economic growth 29
3 Building policy in all the wrong places 60
PART II THE STRUCTURE AND MANAGEMENT OF
THE TECHNOLOGY-BASED ECONOMY
4 Investment and economic growth 74
5 Managing economic growth: the technology element model 84
6 The first three elements of the TEM 105
7 The fourth technology element: high-tech infrastructure 131
8 Managing the technology life cycle 154
PART III INFRASTRUCTURE IN THE HIGH-TECH ECONOMY
9 The materials genome initiative 179
10 The internet protocol 198
PART IV ADAPT OR DECLINE: REGIONAL
TECHNOLOGY-BASED ECONOMIC DEVELOPMENT
11 State Technology-Based Economic Development (TBED)
strategies 206
12 Globalization of TBED: challenges and policy responses 236
PART V THE FUTURE OF ECONOMIC GROWTH POLICIES
13 The future of TBED policies 257
References 272
PART I THE NEED FOR A NEW ECONOMIC GROWTH POLICY
1 Globalization and economic decline 2
2 Feeble policy responses that do not increase economic growth 29
3 Building policy in all the wrong places 60
PART II THE STRUCTURE AND MANAGEMENT OF
THE TECHNOLOGY-BASED ECONOMY
4 Investment and economic growth 74
5 Managing economic growth: the technology element model 84
6 The first three elements of the TEM 105
7 The fourth technology element: high-tech infrastructure 131
8 Managing the technology life cycle 154
PART III INFRASTRUCTURE IN THE HIGH-TECH ECONOMY
9 The materials genome initiative 179
10 The internet protocol 198
PART IV ADAPT OR DECLINE: REGIONAL
TECHNOLOGY-BASED ECONOMIC DEVELOPMENT
11 State Technology-Based Economic Development (TBED)
strategies 206
12 Globalization of TBED: challenges and policy responses 236
PART V THE FUTURE OF ECONOMIC GROWTH POLICIES
13 The future of TBED policies 257
References 272
