The four revolutions of economic history

The first revolution, not least thanks to the invention of the steam engine, was industrialization. Villages became towns. Everyone had a job. Social security and health insurance were foreign words.

 

Then came series production, the assembly line. Henry Ford was the pioneer of this revolution. The gap between employees and employers widened.

 

Robotization, computerization is known as the third revolution. Some processes have been taken over by machines. The job profile changes, unemployment increases.

 

Now we are in the fourth revolution, automation. Blockchain technology acts like a turbo for this progress. The special thing about it is the speed with which this revolution is progressing. Experts say that in a good 10 years, more than 50% of all jobs will have completely different requirements or will even be eliminated. Topics such as unconditional basic income must be given priority in politics. Unfortunately, the challenges of the new economy and global digitization have not been taken seriously enough by policymakers. Those who manage to adapt politics and the school system to these challenges have a good chance of mastering them. Those who sleep will lose, and lose more than you might imagine.

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