Electricity and Information Technology (IT) are perhaps the two most important general purpose technologies (GPTs) to date. We analyze how the U.S. economy reacted to them. The Electricity and IT eras are similar, but also differ in several important ways. Electrification was more broadly...

Electricity and Information Technology (IT) are perhaps the two most important general purpose technologies (GPTs) to date. We analyze how the U.S. economy reacted to them. The Electricity and IT eras are similar, but also differ in several important ways. Electrification was more broadly...

Digitale Maschinen wie selbstfahrende Autos, Drohnen oder 3D-Drucker sind jetzt schon schlauer, besser und schneller, als man es je für möglich gehalten hätte. Onlineplattformen ändern das Verhältnis von Angebot und Nachfrage und bringen neue Marktführer hervor - in der Musikindustrie,...

A new technology or product is often developed by the single entrepreneur. Whether he reaches the public offering stage or is acquired by a listed firm it takes time for the innovator to add value to the stock market. Indeed first, reduce the market's value because some firms -- usually large or...