Economics of the fourth industrial revolution : internet, artificial intelligence and blockchain / Nicholas Johnson and Brendan Markey-Towler.

Format:

Book

Author/Creator:

Johnson, Nicholas (Economist and mathematician), author.

Markey-Towler, Brendan, author.

Contributor:

Taylor & Francis eBooks.

Series:

Innovation and technology horizons

Language:

English

Subjects (All):

Technological innovations--Economic aspects.

Technological innovations.

Technological innovations--Social aspects.

Technology and civilization.

Physical Description:

1 online resource (xiii, 197 pages) : illustrations.

Place of Publication:

Abingdon, Oxon ; New York, NY : Routledge, 2021.

System Details:

text file

Biography/History:

Nicholas Johnson is an economist and mathematician. He is the Principal Economist at Economists Without Borders. He also holds research and teaching positions at the University of Queensland and Queensland University of Technology. He holds a Master of Public Policy from the Australian National University, and undergraduate degrees in mathematics and economics (with First Class Honours) from Queensland University of Technology. Nicholas is a World Economic Forum Global Shaper. Brendan Markey-Towler is a behavioural, institutional, evolutionary economist and an Associate with Economists Without Borders. He was previously a Senior Advisor at Evidn, a global behavioural science company headquartered in Brisbane, Australia. He has researched and taught at the University of Queensland, RMIT University, and University College London and holds a PhD in behavioural, institutional, and evolutionary economics and Bachelor of Economics with First Class Honours and a University Medal from the University of Queensland.

Contents:

1 Introduction: how and why to understand the Fourth Industrial Revolution p. 1

1 Our approach to the economics of the Fourth Industrial Revolution p. 3

2 A preview of our arguments p. 7

Part I Industrial revolutions: what they are, why they matter, how to analyse them p. 11

2 Industrial revolutions past, present, and future: a brief overview of how we got here and where we're going p. 13

1 From economic stagnation to economic growth p. 14

2 Malthusian dynamics and the pre-growth era p. 16

3 The industrial revolution: the first p. 19

4 The technological revolution: the second p. 21

5 The digital revolution: the third p. 23

6 The Fourth Industrial Revolution p. 25

3 The telos of industrial revolutions: how what people value drives the adoption of new technologies p. 31

1 Means, ends, and value p. 32

2 A hierarchy of value p. 33

3 Industrial revolutions promote higher-order values p. 38

4 The "Brisbane Club" model: mind, society, economy as complex evolving networks p. 41

1 Society and economy as complex evolving networks p. 42

2 Formation of socioeconomic systems: environment, mind, and socioeconomy p. 43

3 Evolution of socioeconomic systems: changing environments, changing minds, changing technologies p. 45

4 Micro-meso-macro: new ways of doing things cause disruption, then re-coordination p. 51

5 Summary: applying the Brisbane Club model to the mega-technologies of the Fourth Industrial Revolution p. 53

Part II Internet: hyper-competition, hyper-growth, and the struggle for attention in global markets p. 63

5 Global markets and the struggle for attention: communication and platforms in the rapidly-evolving internet age p. 65

1 The internet: a remarkable data-transfer technology p. 66

2 Why the internet matters: platforms for socioeconomic interaction on a global scale p. 69

3 The struggle for attention in the internet: cognitive constraints in a sea of information p. 73

4 Disruption and re-coordination as global markets emerge; a hyper-charged economy p. 75

5 Summary: global markets and the struggle for attention present opportunities to be seized and challenges to be mitigated p. 78

6 The ocean in your pocket: case studies in global markets and the struggle for attention p. 83

1 The smartphone and wearable technology p. 84

2 Education applications p. 84

3 Entertainment applications p. 85

4 Text and voice: from reading and typing to listening and speaking p. 87

5 A tool for democratisation? Who controls the flows? p. 87

6 Competing platforms, fragmentation, and the market for marketplaces p. 89

Part III Artificial intelligence: radical automation and expansion of human capability p. 95

7 The I, Robot future: human work in an age of artificial intelligence p. 97

1 The machine with a mind: what artificial intelligence is p. 98

2 The economics of a machine with a mind: building a substitute for us p. 101

3 The economic limits of artificial intelligence: where machines are non-substitutable for human labour p. 103

4 Disruption and re-coordination as I, Robot rises: part Utopia, part plutocracy p. 107

5 Summary: human work in an age of artificial intelligence presents challenges, but also profound opportunities p. 109

8 The ghost and the machine: case studies in the I, Robot future p. 115

1 Automation, capital, and labour p. 116

2 Prediction and contingency planning p. 119

3 Comparative advantages of human and machine prediction p. 120

4 Supply chain optimization p. 122

Part IV Blockchain: decentralising power, authority, and the design of systems of governance p. 125

9 The entrepreneurship of rules: institutions in an age of blockchain p. 127

1 The ledger of facts: the blockchain as a foundation for privatised institutional governance of platforms p. 128

2 Adopting a privatised platform with institutional governance: substitution between rule systems p. 131

3 Disruption and re-coordination as privatised institutional governance emerges: a new era for community-based solutions p. 135

4 Summary: the entrepreneurship of rules faces significant challenges, but also presents extraordinary opportunities p. 137

10 Leaderless revolutions: case studies in the entrepreneurship of rules p. 143

1 Coordination, rules, governance, law, and order p. 143

2 Alternative governance structures for institutions p. 148

3 Some promising applications for blockchains p. 152

Part V Discussion and conclusions: harnessing the Fourth Industrial Revolution in systems building p. 165

11 The new economy: opportunities, challenges, and what to do about them p. 167

1 The new economy: global markets and the struggle for attention, Utopia with a hint of plutocracy, and privatised rules p. 168

2 Opportunities and challenges in the new economy p. 172

3 Strategies for seizing opportunities and mitigating challenges p. 173

4 Summary: opportunities and challenges in the Fourth Industrial Revolution and what to do about them p. 183

12 Epilogue: a call to engage with a brave new world, and to have contingency plans p. 188.

Notes:

Includes bibliographical references and index.

Electronic reproduction. London Available via World Wide Web.

Description based on online resource; title from digital title page (viewed on December 09, 2020).

Other Format:

Print version: Johnson, Nicholas (Economist and mathematician) Economics of the fourth industrial revolution

ISBN:

9780429430015

0429430019

9780429771699

042977169X

9780429771705

0429771703

9780429771682

0429771681

Publisher Number:

40030252680

Access Restriction:

Restricted for use by site license.