Managing emerging technologies

• Through what channels are new technologies expected to impact upon economic
growth?
o Large scale of channels: internet, online markets, cell phone technology etc
• What are the major risks to labour from the fourth industrial revolution?
o Automation and job availability
o Labour is not something that overcomes us, it can be regulated  let’s blame
the government 
 Slow and inefficient practices of governments as risks
 Power of institutions
• Are innovation and new technological developments the major cause of the decline in
the labour share across the globe?
o Other factors that may influence decline in labour: population growth, increase
in capital

• Are labour markets in developing countries likely to be affected in the same way as
those in the developed world?

o Offshoring/Reshoring
o China leading the way for developing countries
o Different timing of the effects
o Not the labour market but the market of goods and products will be affected in
developing countries
 Characteristics of developing and developed countries’ labour markets:
more and less skilled workers
 The type of technology largely affects these processes
 Some technologies won’t reach developing countries (at least in the
short term)
o Positions in global value chains may change due to technological advancement

• Do new technologies provide an opportunity for industrialisation in the developing

world?
o Many developing countries can leapfrog technologies (e.g cell phones) from
developed countries  larger social impact
 Reverse engineering
o More difficult to enter the market with these technologies
o Need for skilled human capital to take use of technologies

• Are new technologies associated with the fourth industrial revolution going to destroy
or reinvigorate global value chains?
o Depends on the countries involved and technology
o Generally, it is likely to largely affect current GVCs
o Raised awareness on the environmental aspect of GVCs
 Can Industry 4.0 create GVCs that are more environmentally friendly?
 Tech for green
o Is profit-driven economics sustainable?
  Maybe fifth industrial revolution necessary (green revolution) to
move from the current status quo