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Political Economy of Technological Revolutions

Author

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  • Hristo Prodanov

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

Abstract

The object of the research is the logic of technological revolutions, and its subject is the complex systemic interaction between the technological, economic and political subsystems that significantly shape the entire political-economic system. The object and subject of the research predetermine its purpose, which is to uncover the broader picture of the overall political-economic transformation that occurs with each subsequent technological revolution, particularly in the context of the ongoing Fourth Technological Revolution. This goal necessitates a political-economic approach to the research, one that facilitates the understanding of the logic behind systemic change. The approach emphasizes the study of three key factors – technology, economy, and politics – and the intricate interactions between them in the shaping of the political-economic systems at various stages of capitalism's development. Consequently, the research is structured to first establish a general methodological framework for the political economy of technological revolutions, then to conduct a systemic analysis of the evolving interactions between technology, economy, and politics, and finally to explore how these elements transform the overall political-economic system. This topic is particularly relevant amid the ongoing changes brought about by the Fourth Technological Revolution, highlighting the urgent need for a comprehensive theoretical framework to understand these developments and prevent potential catastrophic outcomes. Inevitably, there are limitations due to the vast scope of interrelationships under investigation and the constraints of addressing them fully within the publication's requirements. These limitations do not undermine the overall validity of the conclusions, as the identified causal and functional relationships do not diminish the findings or the contributions made toward establishing a unified paradigmatic framework. This framework serves as an "ideal type" for understanding technological revolutions within the context of the ongoing Fourth technological, rather than focusing on specific instances or manifestations of related phenomena.

Suggested Citation

  • Hristo Prodanov, 2026. "Political Economy of Technological Revolutions," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 110-134, March.
    • Handle: RePEc:nwe:eajour:y:2026:i:1:p:110-134
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    References listed on IDEAS

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    5. J. R. Ward, 1994. "The industrial revolution and British imperialism, 1750–1850," Economic History Review, Economic History Society, vol. 47(1), pages 44-65, February.
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    Keywords

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    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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