This event is part of the Project for Peaceful Competition.
Hosted by CIGI, this event takes place over two sessions:
- November 15, 6:00 p.m.–9:00 p.m. EST
- November 16, 6:00 p.m.–9:30 p.m. EST
The digital data-driven world is characterized by a particular set of drivers, many of which differ in crucial ways from those of the past. Firms in the new technologies/digital space face high upfront costs and, as a result, a high risk of failure. But once success is achieved, it is sweet: marginal costs of reproduction are zero or near zero, and if protected by any form of intellectual property rights, profits are economic rent. There is a first-mover advantage that is accentuated if product or industry standards are developed concomitantly.
Success in such a world is underwritten by economies of agglomeration and geopolitical strategy. In the high-tech sector, “clustering” — be it of firms, talent, finance or support services — coupled with an active national strategy to nurture and build out the sector, are key to understanding the winners and “the ‘collective’ character of innovation.”
These characteristic features have implications for economic and social policy domestically and internationally, for these issues are the impetus behind creating the Project for Peaceful Competition. This conference, organized over two half-days to accommodate the North American to East Asian time zones, will explore key issues in the governance of a digital data-driven economy and society, with an emphasis on how international cooperation (or the lack thereof) may backstop national policies (or render them less effective). A new era of geopolitics and geoeconomics is upon us.