Are countries ready for the new meso revolution? Testing the waters for new industrial change in Korea

Junmo Kim

Technological Forecasting and Social Change, 2018, vol. 132, issue C, 34-39

Abstract: Capitalism needs momentum and market for growth. Even without subscribing to a specific academic school, capitalism has felt the need for theories or mechanisms to overcome crises in the past. This research tries to shed light on the recent momentum of industry 4.0 with an expanded scope that includes this wave in a series of meso revolutions brought about by the spread of capitalism. After reviewing a lineage of theories that could shape meso revolutions in economic history, this research used Bank of Korea's data, including total capital efficiency and machinery investment efficiency, to check the recent status of the private sector of Korea. An institutional review of the preliminary budget analysis adopted in Korea was then conducted to draw some implications for the country's preparedness toward the so-called industry 4.0 with potential implications for other countries.

Keywords: Meso revolution; Industry 4.0; Investment efficiency; Preparedness for change (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:132:y:2018:i:c:p:34-39

DOI: 10.1016/j.techfore.2017.11.006

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