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    • Publisher:
      Cambridge University Press
      Publication date:
      26 May 2025
      29 May 2025
      ISBN:
      9781009638616
      9781009638630
      9781009638609
      Dimensions:
      (229 x 152 mm)
      Weight & Pages:
      0.268kg, 88 Pages
      Dimensions:
      (229 x 152 mm)
      Weight & Pages:
      0.144kg, 88 Pages
    • Series:
      Elements in Evolutionary Economics
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  • Selected: Digital
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    Series:
    Elements in Evolutionary Economics

    Book description

    This Element develops a theory of institutional acceleration to explain the transformation to a digital economy through a cluster of frontier technologies: artificial intelligence, blockchain, quantum computing, cryptography, and low-earth orbit infrastructure. Unlike previous technological revolutions, these technologies transform not how we organise things, but how we coordinate economic activity. The authors' supertransition thesis explains why these digital technologies shouldn't be understood in isolation, but rather should be understood in how they combine to create new institutional possibilities, leading to more open, complex, and global economic systems. Drawing on evolutionary economics and institutional theory, this Element shows how this evolutionary process is reshaping our institutional economic architecture. Ultimately, institutional acceleration drives greater computation and knowledge into our economic systems.

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