EXTRACT FROM THE PREFACE
of the Global Information Technology Report 2004-2005
by Professor Klaus Schwab
The global economy is being changed in profound ways by the onward march of science and technology.
Technological change has, of course, always been a central engine of economic growth, but what is significant about the past decade is the acceleration in the pace of change and, as more and more countries have made efforts to improve their macroeconomic and policy environments, technology and technological innovation appear to have entered a “golden age”, a time when they are emerging as the key drivers of growth and development.