How to empower people and communities with user-centric data ownership, transparent and accountable algorithms, and secure digital transaction systems. Data is now central to the economy, government, and health systems—so why are data and the AI systems that interpret the data in the hands of so few people? Building the New Economy calls for us to reinvent the ways that data and artificial intelligence are used in civic and government systems. Arguing that we need to think about data as a new type of capital, the authors show that the use of data trusts and distributed ledgers can empower people and communities with user-centric data ownership, transparent and accountable algorithms, machine learning fairness principles and methodologies, and secure digital transaction systems. It’s well known that social media generate disinformation and that mobile phone tracking apps threaten privacy. But these same technologies may also enable the creation of more agile systems in which power and decision-making are distributed among stakeholders rather than concentrated in a few hands. Offering both big ideas and detailed blueprints, the authors describe such key building blocks as data cooperatives, tokenized funding mechanisms, and tradecoin architecture. They also discuss technical issues, including how to build an ecosystem of trusted data, the implementation of digital currencies, and interoperability, and consider the evolution of computational law systems.

The history of Pakistan's nuclear program is the history of Pakistan. Fascinated with the new nuclear science, the young nation's leaders launched a nuclear energy program in 1956 and consciously interwove nuclear developments into the broader narrative of Pakistani nationalism. Then, impelled first by the 1965 and 1971 India-Pakistan Wars, and more urgently by India's first nuclear weapon test in 1974, Pakistani senior officials tapped into the country's pool of young nuclear scientists and engineers and molded them into a motivated cadre committed to building the 'ultimate weapon.' The tenacity of this group and the central place of its mission in Pakistan's national identity allowed the program to outlast the perennial political crises of the next 20 years, culminating in the test of a nuclear device in 1998. Written by a 30-year professional in the Pakistani Army who played a senior role formulating and advocating Pakistan's security policy on nuclear and conventional arms control, this book tells the compelling story of how and why Pakistan's government, scientists, and military, persevered in the face of a wide array of obstacles to acquire nuclear weapons. It lays out the conditions that sparked the shift from a peaceful quest to acquire nuclear energy into a full-fledged weapons program, details how the nuclear program was organized, reveals the role played by outside powers in nuclear decisions, and explains how Pakistani scientists overcome the many technical hurdles they encountered. Thanks to General Khan's unique insider perspective, it unveils and unravels the fascinating and turbulent interplay of personalities and organizations that took place and reveals how international opposition to the program only made it an even more significant issue of national resolve. Listen to a podcast of a related presentation by Feroz Khan at the Stanford Center for International Security and Cooperation at cisac.stanford.edu/events/recording/7458/2/765.

*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.

Sustaining the New Economy will require public policies that remain relevant to the rapid technological changes that characterize it. While data and its timely analysis are key to effective policy-making, we do not yet have adequate statistical images capturing changes in productivity and growth brought about by the information technology revolution. This report on a STEP workshop highlights the need for more information and the challenges faced in measuring the New Economy and sustaining its growth.

Three quarters of the American workforce is now employed in services, a substantial portion in low-paying, dead-end jobs. Can the service economy do as well by the American worker as the old manufacturing economy? Can the widely shared prosperity that accompanied steady increases in productivity and performance in manufacturing be replicated in the services? They can and they will, the authors of this timely book contend, but only if outmoded policies and practices are brought into line with the new economy. New Rules for a New Economy explains why this must be accomplished and how we can start.The authors call for new, decentralized institutions suited to a dynamic economy in which change is constant and rapid. In particular, they see a need for job ladders and worker associations that cut across firm boundaries. These institutions would foster individual and collective learning, mark out career paths, and facilitate coordination among both individuals and organizations in a networked economy. The authors propose new rules to reshape labor market institutions and policy, improving economic performance and opportunities for workers. Unusual in providing a comprehensive theoretical perspective that is grounded in detailed case research, this book points the way to a better future, not just for elite knowledge workers but for everyone.

The financial crisis and the ‘great recession’ have generated the need for new thinking in economics and for new economic policies to secure sustainable and equitable economic development. The new thinking in economics is an interdisciplinary approach to economic problems that acknowledges and respects insights and analyses from other disciplines, and recognizes complexity and evolutionary theory as relevant for understanding economic systems and economic behaviour. New Economics is concerned with institutional behaviour, expectations and uncertainty as opposed to traditional economics with its emphasis on equilibrium, mathematical formalism and deterministic solutions. With the financial crisis brought on by the unrestrained pursuit of personal and corporate profit, sanctioned by traditional economics, this is an opportune moment to establish a new way of approaching economic understanding based on new economic theory. It is also a good time to instigate new ideas on the approach to economic policy across a wide range of areas, such as macroeconomic and global governance, employment and unemployment, social security and pensions. This book is devoted to developing economic policies from the new thinking. It was originally published as a special issue of the International Review of Applied Economics.