Institutional Acceleration: The Consequences of Technological Change in a Digital Economy (Elements in Evolutionary Economics)

Allen, Darcy W. E.; Berg, Chris; Potts, Jason

ISBN 10: 1009638602 / ISBN 13: 9781009638609

Published by Cambridge University Press, 2025

About this Item

Seller Inventory # I-9781009638609

Bibliographic Details

• Title: Institutional Acceleration: The Consequences of Technological Change in a Digital Economy (Elements in Evolutionary Economics)
• Publisher: Cambridge University Press
• Publication Date: 2025
• Language: English
• ISBN 10: 1009638602
• ISBN 13: 9781009638609
• Binding: Soft cover
• Condition: New

About this title

Synopsis

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.