The view that the role of the state in the economy is constant over time clashes with reality. Usually, those who perceive the state’s economic role as static espouse a theoretical view that states should intervene as little as possible in markets, except to correct occasional “market failures” in order to allocate resources efficiently. From a historical perspective, this constant, hands-off governmental1 approach is apocryphal. What can be observed is a changing role of the state, which varies with the cyclical surges of technological change as well as of geopolitical (and ideological) inclinations. This essay discusses the former: how the role of the state changes along the life cycle of a technological revolution while also taking into account the latter.
|Global Cooperation on Digital Governance and the Geoeconomics of New Technologies in a Multi-polar World
Presented at the Project for Peaceful Competition Conference on Global cooperation on digital governance and the geoeconomics of new technologies in a multi-polar world
- digital technologies
- technological revolutions
- role of the state