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Embracing an Innovation Stimulus Package

24 Pages Posted: 12 Jul 2012 Last revised: 18 Jul 2012

Betsy Masiello

Google Inc.

Derek Slater

Google Inc.

Date Written: July 12, 2012

Abstract

Over the past several years, Google has partnered with a number of thought leaders to evaluate and quantify the Internet’s impact on the broader macro-economy. Our work has demonstrated that the Internet has a truly phenomenal impact on economic activity and opportunity, contributing to 21% of GDP growth across the G-20 from 2005-2010. However, since 2008 the global economy has fallen into a state of malaise. GDP growth is slowing worldwide and employment is stagnating as we enter a period some are calling “muddling through.” There is widespread recognition that neither a fiscal stimulus nor a prolonged period of austerity will truly remedy the situation. We believe there remain untapped opportunities to innovate across a range of critical macroeconomic activities by applying core characteristics of the Internet, which has been a source of such astounding innovation in the past decade. What we propose here will not be a panacea for our current economic ills, but by embracing the Innovation Stimulus Agenda we outline, we believe policymakers can move the economic needle in meaningful, positive and sustainable ways.

Keywords: Internet, economy, innovation

Suggested Citation

Masiello, Betsy and Slater, Derek, Embracing an Innovation Stimulus Package (July 12, 2012). Available at SSRN: https://ssrn.com/abstract=2104350 or http://dx.doi.org/10.2139/ssrn.2104350

Betsy Masiello (Contact Author)

Google Inc. ( email )

1600 Amphitheatre Parkway
Second Floor
Mountain View, CA 94043
United States

Derek Slater

Google Inc. ( email )

1600 Amphitheatre Parkway
Second Floor
Mountain View, CA 94043
United States

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