The key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0

Vladimir S. Osipov, Elena I. Larionova, Aleksandr V. Sigarev and Vitalii V. Mishchenko

International Journal of Trade and Global Markets, 2021, vol. 14, issue 4/5, 413-422

Abstract: The purpose of the paper is to determine the key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0. The research is performed by the example of modern Russia as a typical developing country. It is shown that developing countries do not achieve unification of the types of economic activities as to the criterion of their contribution into creation of the pleasure economy in Industry 4.0. The authors distinguish five key types of economic activities in the pleasure economy in the context of developing countries' transition to Industry 4.0: service sphere, industry, agriculture, science and education, and telecommunications. The authors also substantiate that provision of significant contribution of Industry 4.0 into formation of the pleasure economy in Russia by raising the satisfaction with labour for employees requires serious transformation of the economy's sectorial structure.

Keywords: types of economic activities; sectorial structure of economy; economy of pleasure; developing countries; Industry 4.0; digitisation; digital economy. (search for similar items in EconPapers)
Date: 2021
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