Whither the evolution of the contemporary social fabric? New technologies and old socio-economic trends

Giovanni Dosi and Maria Enrica Virgillito

No 316, GLO Discussion Paper Series from Global Labor Organization (GLO)

Abstract: The reflections which follow build on two interrelated questions, namely, first, whether we are witnessing another “industrial revolution”, and second, what is the impact of technological transformations upon the current dynamics of the socio-economic fabric, especially with respect to employment, income distribution, working conditions and labour relations. We argue that the processes of innovation and diffusion of what we could call “intelligent automation” are likely to change, or more likely reinforce, the patterns of distribution of income and power, which have been there well before the arrival of the technologies we are concerned about: some are indeed intrinsic features of capitalism since its inception, while others are features of the last thirtyforty years. First, we shall offer a fresco of such tendencies which certainly preceded any potential “Fourth Industrial Revolution” but are going to be amplified by the latter. Second, we discuss the features of such possible new techno-economic paradigms. Third, we examine the relationships between technology, productivity and growth, and the ensuing impact on jobs, division of labour, distribution of knowledge, power, and control. Finally, we address some policy implications.

Keywords: Social fabric; technology; macroeconomic development; division of labour; knowledge; inequality (search for similar items in EconPapers)
JEL-codes: D63 E6 F6 O10 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-cbe, nep-hme, nep-hpe, nep-ino and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (44)

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Journal Article: Whither the evolution of the contemporary social fabric? New technologies and old socio‐economic trends (2019)
Working Paper: Whither the evolution of the contemporary social fabric? New technologies and old socio-economic trends (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:glodps:316

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