NEW  ECONOMY  AND  INFORMATISATION Cover Image

Nová ekonomika a informatizácia
NEW ECONOMY AND INFORMATISATION

Author(s): Antonín Klas
Subject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV

Summary/Abstract: In the new economy and old economy as well applies that economic growth decreases the rate of unemployment along with the consecutive wages increase and growing demand, but the impact of growing demand on manufacturing capacities and producti-vity growth in new economy is changing. This is because the new investment based on scientific and technology progress impact the productivity growth and enable to mainta-in the unit labour costs constant or even lower. So the growth in demand and supply are balanced. The threat of inflation is minimised as well as need of intervention by the central bank monetary policy. Thanks to the non-inflation development the potential growth can in spite of fully employed manufacturing capacities gain a permanent cha-racter and reach – compared with the past – higher rates of growth within concurrent smoothing and prolonging the cycles of economic prosperity. In this context a question arises, which are the forces capable to raise the labour productivity in a longer run. The accelerated scientific and technological progress is generally considered as one of the decisive forces. At present a key role here is played by the information and com-munication technologies. Their massive growth has a triple effect on economic growth. The first one is the fact, that effectiveness of information technology producers is con-stantly growing. The second one reflects in the growth of manufacturing capacity in those industries which use this technology. And the third one lies in the anti-inflation character of information technology, when the performance unit prices constantly de-crease. The mentioned facts are documented by data in Tables 1, 2 and 3. In connection with the growing information technologies contribution to the eco-nomic growth there appears another question what are the means by which they achieve this growth. Principally there exist three channels through which the information and communication technologies support potential growth.

  • Issue Year: 50/2002
  • Issue No: 01
  • Page Range: 62-84
  • Page Count: 23
  • Language: Slovak