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Outline of Political Economy of the Fourth Industrial Revolution

Author

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  • Hristo Prodanov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article looks to reveal the link between the changes in the technological bases of the production and the stages of development of the political economy. The presumption is that the technologies bring to systemic consequences for the whole society and especially for the relation­ship between state and market. Five stages of development of the modern capitalism and re­spectively of the political economy are outlined – preindustrial, first industrial revolution, second in­dustrial revolution, third industrial revolution, fourth industrial revolution. Focal points of the study are the characteristics of the fourth industrial revolu­tion and its economic consequences, connected with new challenges to the role of the govern­ments for the economy. A special attention is paid to two main directions of changes. The first one is connected with the polarization of the labor market and the growing discrepancies between demand and supply of labor force. The second one is the new trend of economic divergence be­tween developed and developing countries.

Suggested Citation

  • Hristo Prodanov, 2016. "Outline of Political Economy of the Fourth Industrial Revolution," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 131-141, November.
    • Handle: RePEc:nwe:iisabg:y:2016:i:4:p:131-141
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    More about this item

    Keywords

    fourth industrial revolution; political economy; labor force; brain drain;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • Z00 - Other Special Topics - - General - - - General

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