The Concept of Economic Growth Through Digital Economy Perspective

Abstract

AbstractThis article addresses the issue of the economic growth conception re-evaluation, based on the evolution of understanding of what ‘digital’ era is and of what determines the way economic develops. With information and knowledge economy as the basis of the new economic relations, the role of human’s mind and, consequently, knowledge become a first and utmost factor of economic growth and social development that is reflected in modification of economic growth models also by bringing foreword new factors of growth. Considering digital economy and following 4th industrial revolution as a revolution of mind and, consequently, of worldview, it is clear that in new digital era economic growth and economic development are converging into a single concept, united under the term ‘development’ that should be founded on the concept of human development as the latter seems to become the main resource and the main determinant of new economic relations.KeywordsEconomic growthEconomic welfareDigital economyDigital eraDigital capitalHuman capitalCreative capitalJEL CodeO4