THE VALUE ADDED AND THE TRANSFORMATIONS OF ECONOMIC SCIENCE IN THE DIGITAL AGE

Silviya Topleva () and Evgeni Ovchinnikov ()
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Silviya Topleva: University of Food Technologies–Plovdiv, Bulgaria
Evgeni Ovchinnikov: "D. A.Tsenov" Academy of Economics, Svishtov, Bulgaria

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 519-531

Abstract: The technology deployment provokes changes in the production relations and eco-nomic structure of societies. Every major industrial revolution (for example, the First and Third Revolutions) was followed by a subsequent technical revolution (respectively, the Second and Fourth Revolutions), which expands the innovation business potential and determines a new pathway for the economic theory development. The contemporary digi-tal revolution is transforming economic science on the basis of value added. The focus of change is on the role of consumers, the structure of enterprises and the competitive envi-ronment. The intention for value added enhances the innovation activity of companies and their network participation as a competitive advantage.

Keywords: Value added; industrial revolution; digitalization; transformation; economic science (search for similar items in EconPapers)
JEL-codes: B10 B20 O30 O33 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:cfdide:y:2020:i:1:p:519-531

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