E-Economy, New Growth Regime and Public Policies

Abstract

1-The Rise of the E-Economy Despite the fact that the press and some policy makers tend to over-assess the impact of the Internet, and to wrongly think that a "New-Economy " will promptly supplant the "old " one, the emergence of the Internet and E-commerce are not anecdotal issues. They have to be linked to two major trends of our modern economies: the rise of an information-and-knowledge based growth and the spread of information technologies. Both phenomena are partly linked. Initiated by Machlup [1962], Bell [1973], and Lamberton [1974], the thesis of a rise of an information society was more deeply investigated by Porat [1977] and Jonscher [1983, 1994] who studied the evolution of the workforce allocation in the US in the long run. This pioneering work was confirmed by Davis & North's [1986] work on the transaction sector. Jonscher's findings can be summarized as follows: In the long run, the growth of information activities has been being much stronger than that of productive activities, and the former became dominant in the US by the end of the 1970's. The ratio of information worker per productive worker rose from 0,22 in 1900 to 1,13 in 1980 i. The vast majority of information workers perform coordination activities. Indeed, those activities

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