In this paper we discuss the economic potential of the current phase of the ICT revolution in Europe.
We argue that a logical consequence of the exponential improvements in the computational power of inte- grated circuits and data storage capacities observed since the late 1960s, finds logical prolongation in the form of Big and Open data revolution. We support the view that ICT together with Big and Open data solutions reveal many features of General Purpose Technologies, and as such, have strong influence on the entire world economic system. We focus our quantitative analysis on Europe and with the help of a dedicated, bottom-up, macroeconomic model, which we call BOUDICA.
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Big & open data in Europe. A growth engine or a missed opportunity?
