Blackwell Reference Online

Extract

Information and communication technology or technologies (ICT, ICTs) may be considered as a clear exemplar of the salient features and ingredients of a path-dependent and complex process based upon an array of complementary localized technological changes. Indeed, the path leading to the generation and adoption of ICT emerged out of a collective and interactive process induced by relevant changes in the economic environment. This stimulated the creative reaction of an array of learning agents based in a fertile context characterized by effective knowledge governance mechanisms and positive feedback magnified by local externalities. Beginning in the late 1960s, 20 years after World War II, the US experienced a progressive erosion of its economic and technological leadership. The combined effect of the convergent catching up of competing countries, the international diffusion of mass production and science-based technologies ( Nelson & Wright 1992 ), and the exhaustion of technological opportunities in the chemical and engineering technologies resulted in a strong decline of US international competitive advantage and a productivity slowdown ( Griliches 1980 ; →  Diffusion of Information and Innovation ). This decline in performance induced a myriad of interdependent, sequential, and creative efforts directed toward the introduction of complementary technological innovations. These ... log in or subscribe to read full text