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Technical change and future trends in the world economy

Authors
Journal
Futures
0016-3287
Publisher
Elsevier
Publication Date
Volume
25
Issue
6
Identifiers
DOI: 10.1016/0016-3287(93)90104-2
Disciplines
  • Communication

Abstract

Abstract The recession of the early 1990s, though not synchronous between North America, Japan and Europe, has proved more prolonged and severe than other post-war recessions. This article argues that active Keynesian policies to stimulate investment are needed in the G7 and other industrialized countries. Such policies, however, need to take account of the potential of new technologies and especially of information and communication technology (ICT). Infrastructural investment in construction and transport systems offers wide scope for new types of public and private investment needed to overcome the worldwide recession.

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