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The Crisis, COVID-19 and the Acceleration of the Fourth Industrial Revolution

Author

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  • Hristo Prodanov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The study aims to analyze the Сovid-19 pandemic and the acceleration of digitalization as an essential feature of the Fourth Industrial Revolution. This aim determines the object of the research – the pandemic crisis, as well as its subject – the consequences it has on the digital revolution and the related changes in politico-economic system. The approach is politico-economic and systematic, examining the interaction of three groups of factors – technology, economics and politics in the transformation of the entire politico-economic system through the analysis of its subsystems. This approach addresses economic and pandemic crisis as the main factor of the acceleration of the socio-economic transformations, and then focuses on digitalization as the main mechanism for managing the pandemic, as well as its consequences for production, services, trade, distribution, consumption, labor, education, science, health and the state. An attempt is made for the first time to systematically analyze the pandemic of Сovid-19 and the acceleration of technological innovations, as well as the related transformation of the politico-economic system as a result of the contradictions caused by the rapidly changing productive forces and relations of production, necessitating the need for changes in the political superstructure of society.

Suggested Citation

  • Hristo Prodanov, 2021. "The Crisis, COVID-19 and the Acceleration of the Fourth Industrial Revolution," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 171-203, November.
    • Handle: RePEc:nwe:natrud:y:2021:i:4:p:171-203
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/10433
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    More about this item

    Keywords

    digital economy; Fourth industrial revolution; pandemic; crisis; acceleration; digitalization;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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