Data Economy as New Economic Cycle

Arthur, W. B. (2011) “The Second Economy,” McKinsey Quarterly, October.

This piece describes the economic revolution brought about by the emergence of a “second” digital economy alongside the physical economy, which goes “well beyond the use of computers, social media, and commerce on the Internet.” The author considers what this transformation will entail going forward, suggesting that by 2025 the emerging second economy will be at least as large as the 1995 physical economy. The impact, both positive and negative, on employment is also considered.

Brown, B., Chui, M. Manyika, J. (2011) “Are you ready for the era of ‘big data’?,” McKinsey Quarterly October.

Boyd, D. and Crawford, K. (2011) “Six Provocations for Big Data,” A Decade in Internet Time: Symposium on the Dynamics of the Internet and Society, September.

Bughin, J., Chui, M. Manyika, J. (2010) “Clouds, big data, and smart assets: ten tech- enabled business trends to watch,” McKinsey Quarterly, August.

Cukier, K. (2010) “Data Data Everywhere,” The Economist.

Cukier, K. and Mayer-Schönberger, V. (2013) “The Rise of Big Data,” Foreign Affairs, May/June.

OECD (2013) Exploring Data-Driven Innovation as a New Source of Growth: Mapping the Policy Issues Raised by “Big Data,” Directorate for Science, Technology and Industry, Committee for Information, Computer and Communications Policy, June 18.

This report offers an overview of big data and the benefits it brings to various domains, from health care and utilities to transportation and government. The policy issues relating to big data are given special attention, specifically vis-à-vis privacy, open data, infrastructure, and cybersecurity.

The Economist (2011) “Building with Big Data,” May.

Jordan, M. I. (2011) “The Era of Big Data,” The International Society for Bayesian Analysis Bulletin Vol. 18 No. 2 June.

Mandel, M. (2013) “Can the Internet of Everything Bring Back the High-Growth Economy?”, Progressive Policy Institute, September.

Manyika, J. et al. (2011) "Big data: the next frontier for innovation, competition, and productivity," McKinsey Global Institute, May.

This piece discusses the growing size of the data universe, focusing on the overall amount of data in circulation across the economy, especially the data associated with smartphones, healthcare, and real-time position technologies. The economic value of these changes are calculated and discussed apropos specific sectors or the economy (especially health care and public sectors). Some predictions are then proffered, followed by a discussion of some obstacles faced by those hoping to take advantage of Big Data.

Mehta, A. (2011) “Big Data: Powering the Next Industrial Revolution.” Tableau Software White Paper.

Mills, M. P. (2012) “The Next Great Growth Cycle,” The American, August.

---- (2012) “The Coming Tech-led Boom,” Wall Street Journal, January.

---- (2012) “Apps Lead the Way to the Next Innovation Hypercycle,” Forbes, December.

---- (2011) “Facebook, Groupon, Netflix Drive the Next Big Thing and America’s Economic Resurgence,” Forbes, January.

---- (2012) Down the Digital Rabbit Hole as we Automate Everything, Forbes, October.

President’s Council of Advisors on Science and Technology (2010) “Report to the President and Congress, Designing a Digital Future: Federally Funded Research and Development in Networking and Information Technology,” December.

Schmidt, E. and Cohen, J. (2013) The New Digital Age: Reshaping the future of people, nations and business. Knopf.