The fourth industrial revolution is having a major impact on industry and societies primarily because of what has been called its raw material: data. New technologies are allowing hyper-connection on a global scale, not only between people, but also between people and machines and even between machines themselves (the Internet of Things). This book offers a critical reflection on the meaning and expected consequences of the fourth industrial revolution, particularly the advent of digital globalisation, and its implications for industrial policy. Industrial revolutions are considered not only in terms of technological progress, but also in the context of the changing relationship between market and production dynamics, and the social and political conditions enabling the development of new technologies.
Industrial Policy for the Manufacturing Revolution aims to increase our capacity to anticipate and adapt to the forthcoming structural changes. It outlines the type of industrial policy or industrial strategies that are needed in this era of rapid and substantial transformations. The authors propose the concept of ‘comprehensive industrial policy’ which considers the complexity of structural changes that involve not only industry but also institutions, and social and education policies in order to encourage the participation of all citizens in the development process. A concrete illustration of this comprehensive industrial policy is provided through an experience of its implementation at the regional level.
This stimulating and thoughtful book makes the case that industrial policies are more vital than ever, particularly now as the economy undergoes a technological revolution. It will be required reading for all those interested in industrial economics and policy, business and technology.