How the digital economy is changing public policy
Head of Investment Strategy - AXA IM R&IS
Tomorrow Augmented: the digital economy’s next stage of evolution
Technology is changing just about every aspect of how we live and work. From healthcare to taxis, to entertainment and financial services - its influence on society is immense. The rise of the digital economy is core to this megatrend.
Over the next several weeks, we will take an in-depth look at this phenomenon and outline how we expect it to grow over the years to come.
Our sixth piece examines how the digital economy is changing public policy.
- Monetary policy is being challenged by the changing inflation landscape in the digital economy as well as by the emergence of alternative currencies that threaten central banks’ monopoly on money.
- Digital business models call for a rethink of the policies ruling corporate life. Governments need new frameworks for taxation and competition.
- Government 2.0 is attempting to emulate the digital economy in its methods – by the use of data and the ability to improve users’ experience.
- The digital economy is also changing public policy objectives. Managing the fallout of automation on employment looks like a particularly daunting task.