The Technology Revolution and therefore the Restructuring of the worldwide Economy:


THE WORLD IS within the THROES OF A industrial revolution that differs from the periodic waves of technical change that have marked the progress of commercial society since its origins 200 years ago. A shift is happening within the socio technological paradigm that underlies our current sophisticated industrial structure. This old paradigm consists of the production of essentially standardized goods in ever-larger units; a stress on quantitative goals for production, requiring ever higher inputs of capital, energy, and raw materials to supply more and more; and tiny attention to environmental impact, resource use, and conservation issues. In contrast, the new paradigm taking shape is identified with a stress on quality and diversification of products and processes, diffusion of small but highly productive units that believe new technologies and are linked to a process of decentralization of production, adoption of process and merchandise choices requiring far less energy and materials input per unit of output, and a greater awareness of the necessity to preserve the standard of local and global environments.

Thus, we are during a period of transition between two epochs, a time like the economic revolution, when the external-combustion engine was introduced and coal was the emerging energy source. Then, as now, there was widespread fear of the longer term , a fear derived from the problem of even imagining the range of opportunities that an ongoing revolution brings in terms of latest activities and related jobs.

Technology Revolution

During a transition of this magnitude, past equilibrium are disrupted and conditions of mismatch occur parturient markets. The demand for brand spanking new jobs and skills increases, and old activities disappear or lose their importance within the marketplace. These changes are visible; their impact is nearly immediate. it's now clear that the paper-free office goes to be widespread during a few

Suggested Citation:"The Technology Revolution and therefore the Restructuring of the worldwide Economy." National Research Council. 1988. Globalization of Technology: International Perspectives. Washington, DC: 

Decades, and actually , we will see its beginnings with increased office automation, the spread of word processors, and therefore the adoption of integrated workstations. The human-free factory is additionally in view . With increasing automation, it's not only blue-collar jobs which will be eliminated. The change is more profound. Now manufacturing itself becomes ancillary and sometimes even a candidate for contracting out.

This doesn't mean, however, that manufacturing technologies are getting secondary in importance. history offers a parallel. Today’s situation presents an analogy with the position of agriculture after the economic revolution. during the history of commercial society, agriculture improved its output and productivity enormously, although it not dominated the economy and wasn't the most source of jobs because it once had been. Industry will repeat this pattern, because the transition to a postindustrial, service-oriented society is completed.

The present era of change is being caused by an entire cluster of technologies, a number of which have an exceptional capacity for horizontal diffusion altogether sectors of the economy Key technologies during this category include the microelectronics-information technologies complex, the biotechnologies, and therefore the new materials science.

This process of technological change spurs structural changes within the economy and society They also demonstrate considerable creativity through attention to style factors and closer links to the market and its fluctuations, attentiveness to moods and fashions with highly imaginative marketing.

The fact that in Italy these sectors tend to contains dynamic, small- to medium-size firms organized in industrial districts is extremely important. Such districts operate as coalitions of competitors, interdependent yet united by a standard goal. This pattern encourages the diffusion of technology through all firms within the district. this is often in marked contrast to experience elsewhere when competing firms tend to stay technological advances closely to themselves within the hope of retaining competitive advantage. Ideally, rejuvenation of mature sectors may be a “bottom up” process, though in Italy, for instance , the ecru atomic energy Agency offers a big “top down” contribution in terms of data , expertise, support research and development, and project management.

Mature sectors that undergo such technological renewal then strive continually to stay au courant technological developments and market trends can retain competitiveness even within the face of accelerating international competition. But the emerging technologies aren't the exclusive domain of advanced countries, and their intelligent application in developing countries may speed up their economic recess and open possibilities for decentralized patterns of development.

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