Technological revolution

A technological revolution is a period in which one or more technologies is replaced by another novel technology in a short amount of time. It is a time of accelerated technological progress characterized by innovations whose rapid application and diffusion typically cause an abrupt change in society.

An axe made of iron, dating from the Swedish Iron Age, found at Gotland, Sweden: Iron—as a new material—initiated a dramatic revolution in technology, economy, society, warfare and politics.

Description edit

 
The Spinning Jenny and Spinning Mule (shown) greatly increased the productivity of thread manufacturing compared to the spinning wheel.
 
A Watt steam engine—the steam engine, fuelled primarily by coal, propelled the Industrial Revolution in Great Britain and the world.
 
IBM Personal Computer XT in 1988—the PC was an invention that dramatically changed not only professional life, but personal life as well.

A technological revolution may involve material or ideological changes caused by the introduction of a device or system. It may potentially impact business management, education, social interactions, finance and research methodology, and is not limited to technical aspects. It has been shown to increase productivity and efficiency. A technological revolution often significantly changes the material conditions of human existence and has been seen to reshape culture.[1]

A technological revolution can be distinguished from a random collection of technology systems by two features:

1. A strong interconnectedness and interdependence of the participating systems in their technologies and markets.

2. A potential capacity to greatly affect the rest of the economy (and eventually society).[2]

On the other hand, negative consequences have also been attributed to technological revolutions. For example, the use of coal as an energy source have negative environmental impacts, including being a contributing factor to climate change and the increase of greenhouse gases[3] in the atmosphere, and have caused technological unemployment. Joseph Schumpeter described this contradictory nature of technological revolution as creative destruction.[4] The concept of technological revolution is based on the idea that technological progress is not linear but undulatory. Technological revolution can be:

The concept of universal technological revolutions is a "contributing factor in the Neo-Schumpeterian theory of long economic waves/cycles",[5] according to Carlota Perez, Tessaleno Devezas, Daniel Šmihula and others.

History edit

Some examples of technological revolutions were the Industrial Revolution in the 19th century, the scientific-technical revolution about 1950–1960, the Neolithic Revolution, and the Digital Revolution. The distinction between universal technological revolution and singular revolutions have been debated. One universal technological revolution may be composed of several sectoral technological revolutions (such as in science, industry, or transport).

There are several universal technological revolutions during the modern era in Western culture:[6]

  1. Financial-agricultural revolution (1600–1740)
  2. Industrial Revolution (1760–1840)
  3. Technical Revolution or Second Industrial Revolution (1870–1920)
  4. Scientific-technical revolution (1940–1970)
  5. Information and telecommunications revolution, also known as the Digital Revolution or Third Industrial Revolution (1975–2021)
  6. Some say we’re on the brink of a Fourth Industrial Revolution, aka “The Intelligence Revolution” (2022- )

Comparable periods of well-defined technological revolutions in the pre-modern era are seen as highly speculative.[7] One such example is an attempt by Daniel Šmihulato to suggest a timeline of technological revolutions in pre-modern Europe:[8]

  1. Indo-European technological revolution (1900–1100 BC)
  2. Celtic and Greek technological revolution (700–200 BC)
  3. Germano-Slavic technological revolution (300–700 AD)
  4. Medieval technological revolution (930–1200 AD)
  5. Renaissance technological revolution (1340–1470 AD)

Structure of technological revolution edit

Each revolution comprises the following engines for growth:

  • New cheap inputs
  • New products
  • New processes

Technological revolutions has historically been seen to focus on cost reduction. For instance, the accessbility of coal at a low cost during the Industrial Revolution allowed for iron steam engines which led to production of Iron railways, and the progression of the internet was contributed by inexpensive microelectronics for computer development.[citation needed] A combination of low-cost input and new infrastructures are at the core of each revolution to achieve their all pervasive impact.[9]

Potential future technological revolutions edit

Since 2000, there has been speculations of a new technological revolution which would focus on the fields of nanotechnologies, alternative fuel and energy systems, biotechnologies, genetic engineering, new materials technologies and so on.[10]

The Second Machine Age is the term adopted in a 2014 book by Erik Brynjolfsson and Andrew McAfee. The industrial development plan of Germany began promoting the term Industry 4.0. In 2019, at the World Economic Forum meeting in Davos, Japan promoted another round of advancements called Society 5.0.[11][12]

The phrase Fourth Industrial Revolution was first introduced by Klaus Schwab, the executive chairman of the World Economic Forum, in a 2015 article in Foreign Affairs.[13] Following the publication of the article, the theme of the World Economic Forum Annual Meeting 2016 in Davos-Klosters, Switzerland was "Mastering the Fourth Industrial Revolution". On October 10, 2016, the Forum announced the opening of its Centre for the Fourth Industrial Revolution in San Francisco.[14] According to Schwab, fourth era technologies includes technologies that combine hardware, software, and biology (cyber-physical systems),[15] and which will put an emphases on advances in communication and connectivity. Schwab expects this era to be marked by breakthroughs in emerging technologies in fields such as robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, the internet of things, the industrial internet of things (IIoT), decentralized consensus, fifth-generation wireless technologies (5G), 3D printing and fully autonomous vehicles.[16]

Jeremy Rifkin includes technologies like 5G, autonomous vehicles, Internet of Things, and renewable energy in the Third Industrial Revolution.[17]

Some economists do not think that technological growth will continue to the same degree it has in the past. Robert J. Gordon holds the view that today's inventions are not as radical as electricity and the internal combustion engine were. He believes that modern technology is not as innovative as others claim, and is far from creating a revolution.[18]

List of intellectual, philosophical and technological revolutions edit

 
Technological revolution can cause the production-possibility frontier to shift outward and initiate economic growth.
Pre-Industrialization
Industrialization

See also edit

References edit

  1. ^ Klein, Maury (2008): The Technological Revolution, in The Newsletter of Foreign Policy Research Institute, Vol.13, No. 18. [1]
  2. ^ Perez, Carlota (2009): Technological revolutions and techno-economic paradigms., in Working Papers in Technology Governance and Economic Dynamics, Working Paper No. 20, (Norway and Tallinn University of Technology, Tallinn) [2]
  3. ^ Akpan, Usenobong Friday; Akpan, Godwin Effiong (2012-03-01). "The Contribution of Energy Consumption to Climate Change: A Feasible Policy Direction". International Journal of Energy Economics and Policy. 2 (1): 21–33. ISSN 2146-4553.
  4. ^ Perez, Carlota (2002). Technological Revolutions and Financial Capital. Edward Elgar Publishing. doi:10.4337/9781781005323. ISBN 978-1-78100-532-3.
  5. ^ , for example, Perez, Carlota (2009): Technological revolutions and techno-economic paradigms., in Working Papers in Technology Governance and Economic Dynamics, Working Paper No. 20, (Norway and Tallinn University of Technology, Tallinn) [3]
  6. ^ based on: Šmihula, Daniel (2011): Long waves of technological innovations, Studia politica Slovaca, 2/2011, Bratislava, ISSN 1337-8163, pp. 50-69. [4]
  7. ^ for example: Drucker, Peter F. (1965): The First Technological Revolution and Its Lessons. [5]
  8. ^ Šmihula, Daniel (2011): Long waves of technological innovations, Studia Politica Slovaca, 2/2011, Bratislava, ISSN 1337-8163, pp. 50-69
  9. ^ Perez, C. (2010-01-01). "Technological revolutions and techno-economic paradigms" (PDF). Cambridge Journal of Economics. 34 (1): 185–202. doi:10.1093/cje/bep051. ISSN 0309-166X.
  10. ^ Philip S. Anton, Richard Silberglitt, James Schneider (2001): The Global Technology Revolution - Bio/Nano/Materials Trends and Their Synergies with Information Technology by 2015., RAND, ISBN 0-8330-2949-5
  11. ^ Realizing Society 5.0 (promotional paper for Japan)
  12. ^ Modern society has reached its limits. Society 5.0 will liberate us (promotional article for Japan)
  13. ^ Schwab, Klaus (2015-12-12). "The Fourth Industrial Revolution". Retrieved 2019-01-15.
  14. ^ "New Forum Center to Advance Global Cooperation on Fourth Industrial Revolution". October 10, 2016. Retrieved October 15, 2018.
  15. ^ "The Fourth Industrial Revolution: what it means and how to respond". World Economic Forum. Retrieved 2018-03-20.
  16. ^ Schwab, Klaus. "The Fourth Industrial Revolution: what it means, how to respond". World Economic Forum. Retrieved 2017-06-29. The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited. And these possibilities will be multiplied by emerging technology breakthroughs in fields such as artificial intelligence, robotics, the Internet of Things, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, materials science, energy storage, and quantum computing.
  17. ^ Jeremy Rifkin (2011). The Third Industrial Revolution: How Lateral Power is Transforming Energy, the Economy, and the World.
  18. ^ Banerjee, Abhijit (2019). Good Economics for Hard Times (PDF). Public Affairs. pp. 161–162.