The digital revolution represents the most recent of a long
sequence of periodic bursts of innovation and change in the tools and methods used
in the economy. This is all due to the invention of the microprocessor and microchip -
a general-purpose technology that has seen a steady reduction in production
costs and an equally steady increase in capabilities. It has created a whole
new set of products and industries with massive investment opportunities, but
it has also created socioeconomic imbalances. Indeed, the microchip has
facilitated new forms of economic organisation that have slowly spread to more
and more sectors and activities - a process that is ongoing.
As with previous technological revolutions, the digital revolution requires a
paradigm change in the organisation of the economy, which in turn will bring
about new social structures and the need for new institutions.
The European Foundation for the Improvement of Living and Working Conditions
(Eurofound) has published a new report to review the history of the digital
revolution to date, placing it in the context of other periods of marked
technological advances and examining how technological change interacts with
changes in institutions.
This report seeks to establish a solid base for Eurofound's research on the
implications of the digital age. To that end, this report looks to provide
clear demarcations for the key concepts in this area, and make explicit the
assumptions that underlie this research from its inception.
AplusA-online.de - Source: The European Foundation for the Improvement of Living and Working Conditions (Eurofound)