Exploring Digital Transformation in the Economy with Richard Heys
Discover key insights into the digital transformation impacting the economy through the lens of Richard Heys, Deputy Chief Economic Adviser. Explore the challenges and opportunities presented by digital change, including issues like digital free goods, home production, digital intermediation, and quality change. Gain valuable perspectives on how technology is reshaping our economic landscape.
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Presentation Transcript
Digital Change in the Economy Richard Heys Deputy Chief Economic Adviser 26 April 2017
You can see the computer age everywhere but in the productivity statistics (Solow 1987) Percentage of adults using internet daily or almost every day 90 85 80 75 70 65 2009 Source: Ofcom (2016) Communications Market Report 2010 2011 2012 2013 2014 2015 2016
Issues 1. Digital free goods replacing purchased goods 2. Home production 3. Home assets 4. Digital intermediation 5. Quality change
Home Production and Home Assets The Enlightened Economist Economics and business books
Quality change Source: Cost and Value of Communications Services in the UK , Ofcom, 2014
Any questions? Richard Heys Deputy Chief Economic Adviser 26 April 2017
