Enhancing Productivity Growth in the Information Age: Measuring and Sustaining the New Economy

Starting in the mid 1990s, the United States economy experienced an unprecedented upsurge in economic productivity. Rapid technological change in communications, computing, and information management continue to promise further gains in productivity, a phenomenon often referred to as the New Economy. To better understand this phenomenon, the National Academies Board on Science, Technology, and Economic Policy (STEP) initiated a project to better measure the contributions of different elements of the new economy (semiconductors, computers, software, and telecommunications) and to develop policies to meet the needs of these growth-enhancing industries. Accompanied by four workshop reports, this summary volume describes the steps required to better measure and sustain the benefits of this new economy in the sectors examined.