The Digital Revolution and the State:
The Great Reversal
All of the components of the Digital Revolution, from silicon to software and on to the internet, were spawned by the American state. Now the Digital Revolution has reached take-off velocity, generating such momentum that - far from depending on state subsidy and sponsorship - it is attacking the authority of the state at multiple levels. It even threatens the integrity of the political process on which that authority rests. The deligitimization of the American state as an economic actor not only looks backward, given its failure to buffer its constituents from the economic consequences of the Digital Revolution. It also reaches forward, as the US abdicates from playing any substantive role in the needed, next Green Revolution, where China is poised to play the leading role.
William H. Janeway
Senior Advisor and Managing Director, Warburg Pincus
William H. Janeway is a Senior Advisor and Managing Director of Warburg Pincus. He joined Warburg Pincus in 1988 and was responsible for building the information technology investment practice. Previously, he was executive vice president and director at Eberstadt Fleming. Dr. Janeway is a director of Magnet Systems and O’Reilly Media. He is an Affiliated member of the Faculty of Economics at Cambridge University.Dr. Janeway is a co-founder and member of the board of governors of the Institute for New Economic Thinking. He is a member of the board of directors of the Social Science Research Council and of the Field Institute for Research in the Mathematical Sciences and of the Advisory Board of the Princeton Bendheim Center for Finance. He is a member of the management committee of the Cambridge-INET Institute, University of Cambridge and a Member of the Board of Managers of the Cambridge Endowment for Research in Finance (CERF). He is the author of Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators, and the State, the 2nd edition of the book initially published by Cambridge University Press in November 2012.Dr. Janeway received his doctorate in economics from Cambridge University where he was a Marshall Scholar. He was valedictorian of the class of 1965 at Princeton University.