The debate among economists, and in particular between Keynesians (such as Krugman) and non (or less) Keynesian, is not getting to the bottom of the issues raised by the 2008 recession, which is really that of the creation of new markets. The chapter examines the making of the crisis in the 2000s as a result of the technological flop of ICTs after the 1990s expansion. It then articulates the question of the barriers new technologies encounter to become new engines of growth precisely for the difficulties to create new markets at the sufficient scale.
Long-term depression and new markets: Economists and the 2008 recession
GUALERZI, DAVIDE
2011
Abstract
The debate among economists, and in particular between Keynesians (such as Krugman) and non (or less) Keynesian, is not getting to the bottom of the issues raised by the 2008 recession, which is really that of the creation of new markets. The chapter examines the making of the crisis in the 2000s as a result of the technological flop of ICTs after the 1990s expansion. It then articulates the question of the barriers new technologies encounter to become new engines of growth precisely for the difficulties to create new markets at the sufficient scale.
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