The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China
During the First Industrial Revolution, industrialization led to incompatibilities between the economic sphere and a political sphere based on rule by monarchs and land-owning nobles. These incompatibilities led to poor economic outcomes for workers and, ultimately, to deep changes in the political...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-07-01
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| Series: | Asia and the Global Economy |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667111524000215 |
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| author | Josef C. Brada Jehoon Park |
| author_facet | Josef C. Brada Jehoon Park |
| author_sort | Josef C. Brada |
| collection | DOAJ |
| description | During the First Industrial Revolution, industrialization led to incompatibilities between the economic sphere and a political sphere based on rule by monarchs and land-owning nobles. These incompatibilities led to poor economic outcomes for workers and, ultimately, to deep changes in the political system. In the Second and Third Industrial Revolutions, compatibility emerged between new technologies and political systems based on representative democracy, leading to favorable outcomes. The changes in technology brought by the Fourth Industrial Revolution may lead to a growing incompatibility between the productive and political spheres, marked by polarization and conflict both within and among counties. A key aspect of this conflict is the rivalry between the United States and China. We evaluate the strengths of the respective countries and analyze which of them is likely to win the competition for dominance during the Fourth Industrial Revolution. |
| format | Article |
| id | doaj-art-e7943bc2a9964cbebed72ddb8aaca4c8 |
| institution | Kabale University |
| issn | 2667-1115 |
| language | English |
| publishDate | 2024-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Asia and the Global Economy |
| spelling | doaj-art-e7943bc2a9964cbebed72ddb8aaca4c82024-12-15T06:17:46ZengElsevierAsia and the Global Economy2667-11152024-07-0142100097The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and ChinaJosef C. Brada0Jehoon Park1Department of Economics, Arizona State University, Tempe, AZ, USA; Corresponding author.School of Northeast Asian Studies, Incheon National University, Incheon 22012, KoreaDuring the First Industrial Revolution, industrialization led to incompatibilities between the economic sphere and a political sphere based on rule by monarchs and land-owning nobles. These incompatibilities led to poor economic outcomes for workers and, ultimately, to deep changes in the political system. In the Second and Third Industrial Revolutions, compatibility emerged between new technologies and political systems based on representative democracy, leading to favorable outcomes. The changes in technology brought by the Fourth Industrial Revolution may lead to a growing incompatibility between the productive and political spheres, marked by polarization and conflict both within and among counties. A key aspect of this conflict is the rivalry between the United States and China. We evaluate the strengths of the respective countries and analyze which of them is likely to win the competition for dominance during the Fourth Industrial Revolution.http://www.sciencedirect.com/science/article/pii/S2667111524000215industrial revolutionChina-US competitionTechnological changeHistorical materialismPolitical system |
| spellingShingle | Josef C. Brada Jehoon Park The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China Asia and the Global Economy industrial revolution China-US competition Technological change Historical materialism Political system |
| title | The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China |
| title_full | The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China |
| title_fullStr | The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China |
| title_full_unstemmed | The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China |
| title_short | The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China |
| title_sort | fourth industrial revolution implications for the global economy and for the strategic competition between the united states and china |
| topic | industrial revolution China-US competition Technological change Historical materialism Political system |
| url | http://www.sciencedirect.com/science/article/pii/S2667111524000215 |
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