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The Technological Revolution: The Rise of Machines

In: Making the Global Economy Work for Everyone

Author

Listed:
  • Marco Magnani

    (LUISS Guido Carli)

Abstract

We are living in the most innovative period in all of human history. On the one hand, the technological and scientific revolution opens up unprecedented opportunities: accelerating human progress, improving the quality of life and overcoming many constraints. From an economic point of view, technology and science can increase productivity and expand the economy generating wealth, relieve humans from heavy and dangerous activities, and increase labour flexibility. On the other hand, some technologies can be used for criminal activities, terrorism, sabotage, restriction of personal freedoms, repression and other ethically controversial objectives. The risks also affect the sustainability of economic growth, the fabric of society and the future of labour, humanity as a whole and its role. Simply witnessing technological development as a mere spectator is not possible. New technologies influence the way we live, think, produce and work. Beyond the technical aspects, they introduce new mental, cultural and strategic models. The upcoming wave of innovation affects everyone. To ride this wave instead of being overwhelmed by it, one must grasp the main innovations and understand how they work and are connected to one another.

Suggested Citation

  • Marco Magnani, 2022. "The Technological Revolution: The Rise of Machines," Springer Books, in: Making the Global Economy Work for Everyone, chapter 0, pages 17-52, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-92084-5_2
    DOI: 10.1007/978-3-030-92084-5_2
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