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The Value Added And The Transformations Of Economic Science In The Digital Age

Author

Listed:
  • Silviya Topleva

    (University of Food Technologies–Plovdiv, Bulgaria)

  • Evgeni Ovchinnikov

    ("D. A.Tsenov" Academy of Economics, Svishtov, Bulgaria)

Abstract

The technology deployment provokes changes in the production relations and eco-nomic structure of societies. Every major industrial revolution (for example, the First and Third Revolutions) was followed by a subsequent technical revolution (respectively, the Second and Fourth Revolutions), which expands the innovation business potential and determines a new pathway for the economic theory development. The contemporary digi-tal revolution is transforming economic science on the basis of value added. The focus of change is on the role of consumers, the structure of enterprises and the competitive envi-ronment. The intention for value added enhances the innovation activity of companies and their network participation as a competitive advantage.

Suggested Citation

  • Silviya Topleva & Evgeni Ovchinnikov, 2020. "The Value Added And The Transformations Of Economic Science In The Digital Age," Economic Science, education and the real economy: Development and interactions in the digital age, Publishing house Science and Economics Varna, issue 1, pages 519-531.
    • Handle: RePEc:vrn:cfdide:y:2020:i:1:p:519-531
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    More about this item

    Keywords

    Value added; industrial revolution; digitalization; transformation; economic science;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General

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