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Industry 4.0 and Serbia: Modern Technologies and the Impact on the Economy of Modern Society

Author

Listed:
  • Pajović, Ivan
  • Petrović, Dragan
  • Bukvić, Rajko

Abstract

The fourth technological (industrial) revolution is based primarily on digital technologies, but also on their synthesis with other technologies, both traditional and conventional, as well as advanced, such as nanotechnologies and biotechnologies. The emergence of disruptive technologies causes changes in markets, which can sometimes be revolutionary. Economic as well as other sciences have not yet given the ultimate judgment - will the Fourth Technological Revolution and disruptive technologies contribute to the creation of a welfare society, reduce poverty and facilitate work, or increase material inequality, make distribution of goods more unfair and cause mass unemployment.

Suggested Citation

  • Pajović, Ivan & Petrović, Dragan & Bukvić, Rajko, 2019. "Industry 4.0 and Serbia: Modern Technologies and the Impact on the Economy of Modern Society," MPRA Paper 97489, University Library of Munich, Germany, revised 2019.
    • Handle: RePEc:pra:mprapa:97489
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    File URL: https://mpra.ub.uni-muenchen.de/97489/1/MPRA_paper_97489.pdf
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    More about this item

    Keywords

    modern technologies; disruptive innovations; biotechnology; nanotechnology; market; (in)equality; poverty; welfare;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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