The world economy is struggling since 2008 to emerge from a crisis that has no precedent since the 1930s. The LUISS International Group on Economic Policy (LIGEP) has given, in 2010, its own assessment of the crisis. LIGEP warned that a serious effort was needed to recognize, and to address, the structural weaknesses that may impede future growth. The present volume is an attempt to understand the ways to durably improve the capacity of economy to grow in a sustainable way. This report focuses on productivity and technical progress, the main source of different economic performance between European Union and United States. It takes the stance that what is actually more important are differences in the effectiveness with which computers, the internet, and the web have been embedded in the production processes of the industries using these innovations, reaching two conclusions that stand somewhat apart from current literature.