The U.S. Information Economy: Value, Employment, Industry Structure, and Trade

Apte, Uday; Karmarkar, Uday S.; Nath, Hiranya K.

doi:10.1561/0200000013

Cited by 8 publications

(12 citation statements)

References 68 publications

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“…Following Porat's approach, Apte and Nath (2007) estimated that the information sector contributed 63% to the GNP in 1997. Subsequently Apte et al (2008Apte et al ( , 2012 have updated the US economy analysis to 2007. They show that in addition to the GNP shares, employment in the United States is also now dominated by information intensive work.…”

Section: Literature Reviewmentioning

confidence: 99%

Industrialization, Productivity and the Shift to Services and Information

Karmarkar

Kim

Rhim

2015

Production and Operations Management

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A ll major world economies are exhibiting a shift from products to services in terms of relative share of GNP and employment. A well accepted explanation for this shift to services has been the lower productivity growth in services relative to manufacturing. A second trend visible in the United States and other advanced economies is that from material-intensive to information-intensive sectors with the latter growing relative to the former. There does not seem to be a generally accepted explanation for this shift; in fact, here it would appear that productivity in information-intensive sectors is increasing. We construct a model of an economy with endogenous production and consumption decisions by utility maximizing individuals. We show that differential productivity changes can result in either relative growth or decline of a sector. A second factor affecting the direction of change is the degree to which consumption of sector outputs approaches satiation. When marginal utility of additional consumption drops sufficiently low, productivity increases can lead to declines in the relative size and share of, and employment in the sector. Concurrently, increases in productivity increase average wealth as expected, but income inequality can either increase or decrease.We assume non-satiation of consumption utility, that is, there is at least one j, such that @U i @y ij [ 0 for all feasible y ij : Karmarkar, Kim, and Rhim: Productivity and the Shift to Services

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Section: Literature Reviewmentioning

confidence: 99%

Industrialization, Productivity and the Shift to Services and Information

Karmarkar

Kim

Rhim

2015

Production and Operations Management

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“…Machlup, 1962Machlup, , 1980Porat, 1977;Karunaratne, 1986;Apte & Nath, 2004;Apte et al, 2008;2012;Wolff, 2005;Nath, 2009;2011). To remedy that gap, the present paper offers preliminary results from the first ever identification of the Swedish information economy, which shows that Sweden is presently indeed dominated by its information economy.…”

Section: Introductionmentioning

confidence: 87%

“…A chief reason to that limitation is the difficulty to measure and quantify national economies at the macro level with regard to information activities and their economic value creation. The number of recent studies that attempt to quantify the size, structure and dynamics of an information economy at macro level has therefore been relatively limited (Karunaratne, 1986;Apte & Nath, 2004;Apte et al, 2008;2012;Wolff, 2005;Nath, 2009;2011). The key message delivered by these studies is that the US information economy accounts now for more than half of the total US economy, measured in terms of GNP and the share of workers; and that the information economy is continuing to grow.…”

Section: Conceptual Research Frameworkmentioning

confidence: 99%

“…Examples of information workers are teachers, film and music producers, accountants, lawyers, physicians, engineers, architects, scientists, marketers, managers, and financial analysts. When the execution of information producing work includes digital technologies, an information economy tends to manifest somewhat different characteristics compared to the conventional economic wisdom as derived from the industrial age where material products are manufactured (Varian et al, 2004;Wolff, 2005;Apte et al, 2012). Examples of these peculiarities of information economy include the elimination of marginal costs (Varial et al, 2004), the realization of strong network effects (ibid.…”

Section: Introductionmentioning

confidence: 99%

“…Next, and following Apte et al (2012), we apply indicator of information intensity, defined as a job's fraction of time spent in dealing with informationintensive tasks. An occupation is classified according to five levels of information intensity (100%; 75%; 50%; 25%; 0%).…”

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confidence: 99%

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Swedish Information Economy : A preliminary account

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The recent developments and adoptions of digital technologies give rise to the growth of information economies, understood as an aggregate of economic activities that produce informational outputs. Several key characteristics of an information economy differ to the conventional economic wisdom derived from the industrial age, which may impose governmental policy implications and therefore constitutes a key question: how to govern the newly emerged information economy with the thinking of the industrial age economy. Resolving this problem requires, among others, comprehensive understanding of information economies. To that end, Sweden is among the most advanced adopters of digital technologies and represents therefore a suitable empirical base for the investigation of an information economy. This paper offers preliminary results from a first ever account of the Swedish information economy in terms of its value created, jobs and wages; this account shows that the Swedish economy is dominated by its information economy, which requires a careful attention of policy makers.

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The U.S. Information Economy: Value, Employment, Industry Structure, and Trade

Cited by 8 publications

References 68 publications

Industrialization, Productivity and the Shift to Services and Information

Industrialization, Productivity and the Shift to Services and Information

Swedish Information Economy : A preliminary account

An Analytical Framework for the Analysis of an Information Economy

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