Though seems unrelated, still I suppose the entire structure of accountancy will change in the IR 4.0......what are your views.what might be the direct,indirect,major and minor implications for the accounting world.
You have raised an important point, concerning the future accounts of society.
Conference Paper Money To Capital?
Conference Paper The 'Babylonian' Accounts of Society
The forces of production of IR 4.0 and exponential technology do rise, but accounting is about the relationships of production (and ownership). The economic dynamics of these 2 factors is not harmonious, if we just take a look at economic history. I would say, if the time-lag or gap between exponential productivity and accounting techniques gets too long, the affected societies will face great conflict, upheaval and anomie.
https://en.wikipedia.org/wiki/Anomie
Macro-economic prudence is essential, even in micro-economic accounting.
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