Democratizing innovation: Putting technology to work for inclusive growth

Blueprints for American Renewal & Prosperity

Contents 


Summary

Digital technologies have dazzled but not delivered the expected dividend in higher aggregate productivity growth. Inequality has been rising. The COVID-19 pandemic can reinforce these dynamics as it accelerates digital transformation. Today’s innovation economy must be broadened to disseminate new technologies and productive opportunities among smaller firms and wider segments of the labor force. Innovation must be democratized. There are three key areas for policy action:

  • Competition policy should be revamped for the digital age. Antitrust enforcement should be beefed up, supported by updated laws and guidelines. Funding for the Federal Trade Commission (FTC) and the Department of Justice Antitrust Division should be increased to offset years of decline. Issues revolving around data, digital platforms, and rising market domination by tech giants must be addressed. To tackle this new agenda, the…

Source link

[ad_2]