Is it time to change the civilization development strategy globally and focus on sustainable socio-economic development?

Will "ECONOMY" help in this, will "NEW ECONOMY" help in the 21st century?

In the greatest generalization, economics should help reconcile two opposing issues: How to create and deliver through limited markets economic goods, created on the basis of limited resources to meet unlimited human needs. Economics should also help in formulating the answer to the question: what, how and for whom to produce, produce, offer? On the other hand, in the 21st century, the economy should help answer the question: how should domestic and international economies develop in order to achieve sustainable economic development taking into account the issues of ecology, renewable energy sources, increasing the use of secondary raw materials, development of technological innovations, ecological and materials that will enable achieving sustainable development, i.e. such economic development in which the negative effects of this development for the natural environment will be gradually reduced.

This is a very important question in the context of the changing economies of the 21st century, in the context of the current fourth technological revolution, Industry 4.0.

Apparently, we are now living in the era of the fourth technological revolution, known as Industry 4.0.

The previous three technological revolutions:

1. The industrial revolution of the eighteenth and nineteenth centuries, determined mainly by the industrial application of the invention of a steam engine.

2. Electricity era of the late nineteenth century and early twentieth century.

3. The IT revolution of the second half of the twentieth century determined by computerization, the widespread use of the Internet and the beginning of the development of robotization.

The current fourth technological revelation, known as Industry 4.0, is motivated by the development of the following factors:

- artificial intelligence,

- cloud computing,

- machine learning,

- Big Data database technologies,

- Internet of Things.

On the basis of the development of these IT instruments and technologies, business analytics of companies such as Business Intelligence and the above-mentioned areas have been dynamically developing in recent years.

In view of the above, I turn to you with the following question: In what direction will the current technological revolution, known as Industry 4.0, develop?

Will "ECONOMY" change its character, its functions in the context of changing economies in the 21st century, in the context of the current fourth technological revolution Industry 4.0, in the context of the growing importance of renewable energy, environmental protection, to reduce the Earth's greenhouse effect and increase the scale of sustainable implementation development?

Is it time to change the civilization development strategy globally and focus on sustainable socio-economic development?

Will "ECONOMY" help in this, will "NEW ECONOMY" help in the 21st century?

Please, answer, comments. I invite you to the discussion.

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