Why Europe Must End Its 30-Year Digital Winter to Ensure Its Long-Run Future

15 Pages Posted: 30 Apr 2024

See all articles by David S. Evans

David S. Evans

Market Platform Dynamics; Berkeley Research Group, LLC

Date Written: April 18, 2024

Abstract

Europe must end its 30-year digital winter to ensure its long-run future. In the last 30 years, Europe has created few leading digital businesses compared to the U.S. and China. The lack of digital innovation during an epoch in which most industries will be driven by digital, along with other cutting-edge technologies with similar trajectories, places European industries at risk of falling even further behind the U.S., China, and other surging economies. To reverse its long losing streak in digital innovation, which may extend to other critical technologies as well, Europe would have to move to a greater reliance on markets, a stronger culture of risk taking and a smaller appetite for regulation.

Keywords: digital economy, digital transformation, Europe's malaise, European growth, digital startups in Europe, Europe 2050, innovation in Europe

JEL Classification: D02, E02, E24, L10, L16, L26, L38, L50, L53,O00, O12, O30, O38, O52, P00

Suggested Citation

Evans, David S., Why Europe Must End Its 30-Year Digital Winter to Ensure Its Long-Run Future (April 18, 2024). Available at SSRN: https://ssrn.com/abstract=4799197 or http://dx.doi.org/10.2139/ssrn.4799197

David S. Evans (Contact Author)

Market Platform Dynamics ( email )

140 South Dearborn St.
Chicago, IL 60603
United States

Berkeley Research Group, LLC ( email )

99 High St.
Boston, MA 02110
United States

HOME PAGE: http://davidsevans.org

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