Data and contemporary economics: role, paradox and development
Purpose – A more accurate comprehension of data elements and the exploration of new laws governing contemporary data in both theoretical and practical domains constitute a significant research topic. Design/methodology/approach – Based on the perspective of evolutionary economics, this paper re-exam...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2024-11-01
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| Series: | China Political Economy |
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| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/CPE-09-2024-0014/full/pdf |
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| author | Hai-xi Jiang Nan-ping Jiang |
| author_facet | Hai-xi Jiang Nan-ping Jiang |
| author_sort | Hai-xi Jiang |
| collection | DOAJ |
| description | Purpose – A more accurate comprehension of data elements and the exploration of new laws governing contemporary data in both theoretical and practical domains constitute a significant research topic. Design/methodology/approach – Based on the perspective of evolutionary economics, this paper re-examines economic history and existing literature to study the following: changes in the “connotation of production factors” in economics caused by the evolution of production factors; the economic paradoxes formed by data in the context of social production processes and business models, which traditional theoretical frameworks fail to solve; the disruptive innovation of classical theory of value by multiple theories of value determination and the conflicts between the data market monopoly as well as the resulting distribution of value and the real economic society. The research indicates that contemporary advancements in data have catalyzed transformative innovation within the field of economics. Findings – The research indicates that contemporary advancements in data have catalyzed disruptive innovation in the field of economics. Originality/value – This paper, grounded in academic research, identifies four novel issues arising from contemporary data that cannot be adequately addressed within the confines of the classical economic theoretical framework. |
| format | Article |
| id | doaj-art-923d5606381e48668d2cd9edf8758379 |
| institution | DOAJ |
| issn | 2516-1652 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | China Political Economy |
| spelling | doaj-art-923d5606381e48668d2cd9edf87583792025-08-20T02:51:18ZengEmerald PublishingChina Political Economy2516-16522024-11-017219521610.1108/CPE-09-2024-0014Data and contemporary economics: role, paradox and developmentHai-xi Jiang0Nan-ping Jiang1School of International Business, Southwestern University of Finance and Economics, Chengdu, ChinaSchool of Economics, Southwestern University of Finance and Economics, Chengdu, ChinaPurpose – A more accurate comprehension of data elements and the exploration of new laws governing contemporary data in both theoretical and practical domains constitute a significant research topic. Design/methodology/approach – Based on the perspective of evolutionary economics, this paper re-examines economic history and existing literature to study the following: changes in the “connotation of production factors” in economics caused by the evolution of production factors; the economic paradoxes formed by data in the context of social production processes and business models, which traditional theoretical frameworks fail to solve; the disruptive innovation of classical theory of value by multiple theories of value determination and the conflicts between the data market monopoly as well as the resulting distribution of value and the real economic society. The research indicates that contemporary advancements in data have catalyzed transformative innovation within the field of economics. Findings – The research indicates that contemporary advancements in data have catalyzed disruptive innovation in the field of economics. Originality/value – This paper, grounded in academic research, identifies four novel issues arising from contemporary data that cannot be adequately addressed within the confines of the classical economic theoretical framework.https://www.emerald.com/insight/content/doi/10.1108/CPE-09-2024-0014/full/pdfContemporary dataParadox of economicsDisruptive innovationImplication |
| spellingShingle | Hai-xi Jiang Nan-ping Jiang Data and contemporary economics: role, paradox and development China Political Economy Contemporary data Paradox of economics Disruptive innovation Implication |
| title | Data and contemporary economics: role, paradox and development |
| title_full | Data and contemporary economics: role, paradox and development |
| title_fullStr | Data and contemporary economics: role, paradox and development |
| title_full_unstemmed | Data and contemporary economics: role, paradox and development |
| title_short | Data and contemporary economics: role, paradox and development |
| title_sort | data and contemporary economics role paradox and development |
| topic | Contemporary data Paradox of economics Disruptive innovation Implication |
| url | https://www.emerald.com/insight/content/doi/10.1108/CPE-09-2024-0014/full/pdf |
| work_keys_str_mv | AT haixijiang dataandcontemporaryeconomicsroleparadoxanddevelopment AT nanpingjiang dataandcontemporaryeconomicsroleparadoxanddevelopment |