MIT Sloan School of Management
Massachusetts Institute of Technology@sstern_mit Website
Professor Stern explores how innovation and entrepreneurship differ from more traditional economic activities, and the consequences of these differences for strategy and policy. His research in the economics of innovation and entrepreneurship focuses on entrepreneurial strategy, innovation-driven entrepreneurial ecosystems, and innovation policy and management.
|In the next five years, the blockchain will have a transformative effect on finance in emerging markets.||Strongly Disagree||7||“Blockchain has been seeking an application for more than a decade to no avail. While there are important use cases (e.g., Ripple international settlement), blockchain will survive as the use of cloud databases by distributed players who agree on particular verification standards increases. In the absence of a separate fundamental innovation, this will be an incremental rather than transformative advance.”|
|In the absence of a carbon tax, industry self-regulation can help mitigate the worst fallout from climate change.||Disagree||9||“In the absence of an effective price for carbon, industry self-regulation is likely to have at best a very small impact on global climate emissions (even though emissions may go down dramatically in some regions [Europe] or industries [IT]). The problem is that, even if a given group reduces emissions, the overall impact of emissions depends on global output.”|
|Amazon’s new $15 per hour minimum wage will force other companies to follow suit.||Agree||9||“The Amazon minimum wage will exert real pressure on entry-level wages for service-sector employees in labor markets, encourage the adoption of higher minimum wages in many metro areas, and leave at least some large retailers to conclude that getting ahead of the curve as a ‘good jobs’ company makes strategic and economic sense.”|