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Digital Future: Economic Growth, Social Adaptation, and Technological Perspectives

  • Vladimir S. OsipovEmail author
Conference paper
  • 43 Downloads
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 1100)

Abstract

This chapter takes a systematic approach to researching the sustainability of the global digital economy. Stability at the macroeconomic level is accompanied by a ratio of aggregate demand and aggregate supply, due to which equilibrium is achieved. In the digital economy, several major transformations of the world economy are taking place at once: national borders are eroding, the role of the state in regulating monetary policy is decreasing, the role of institutional competition between different jurisdictions is growing, the flows of labor and capital are expanding, and uncontrolled global Internet platforms - business giants, are emerging which determine the direction of world development. The chapter shows the trends in the world economy under the influence of digitalization, and also highlights three effects: economies of scale, ratchet and hysteresis, as areas of research. Their influence on the ongoing economic processes on a planetary scale begins to manifest itself somewhat differently than in the framework of national economies, which makes their study relevant for understanding the ongoing global processes.

Keywords

Digital economy Sustainability Economies of scale Ratchet effect Hysteresis 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.MGIMO UniversityMoscowRussia

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