Technological Progress in Economics, Market and Democracy Versus Informational Revolution

Andrzej Piotr Wierzbicki ()
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Andrzej Piotr Wierzbicki: National Institute of Telecommunication

Chapter Chapter 3 in The Future of Work in Information Society, 2016, pp 19-27 from Springer

Abstract: Abstract This chapter discusses the prevailing opinions in economics concerning the impacts of technological progress on economy and society and shows how the informational revolutionInformational revolution and the speed of technological change, caused by positive feedbacks in developmental mechanisms, invalidate today these opinions. After personal computers, mobile telephony and the Internet, quickly integrating together today, next three waves of informational revolution are coming: a social penetration of robots, of knowledge engineering (called imprecisely artificial intelligence) and of biomedical engineering. The coming decades will display changes even more fundamental than the last three decades. The impact of these changes on markets, society, future of work and democracy is discussed in detail.

Keywords: Technological progress and unemployment; Dematerialisation of work; Replacement of labour by capital; Coming waves of informational revolution; Tacit price fixing; The value of democracy (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-319-33909-2_3

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DOI: 10.1007/978-3-319-33909-2_3

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