EVOLUTION OF ECONOMIC CONCEPTS FROM THE INDUSTRIAL REVOLUTION TO THE DIGITAL REVOLUTION

Abstract

The relevance of the topic of the research lies in the fact that under the conditions of the development of the Fourth Industrial Revolution profound and systemic changes are taking place, which act as a disruptive force of changes in paradigms (concepts, models, theories), creating new megatrends of digitalized society, contributing to the changes. Only the digital economy can create the conditions for the breakthrough of advanced technologies (nanotechnology, neurotechnology, piece-by-piece intelligence, robotics, implant technologies, development of BIG DATA, Internet solutions, “smart cities”, 3D-trucks and 3D-production, Bitcoin and blockchain, and many others) focused on innovations. The aim of the research is theoretical and practical aspects of the conceptual evolution of the economy from the industrial to digital revolution. The task of the research: 1. Analysis of the first industrial innovations that have influenced the development of civilization. 2. Identification of the essence and recognition of the digital economy concepts. 3. Analysis of the economy of events and transformations concepts as a predictive basis of the digital economy. 4. Identification of the main indicators and directions of concept of sustainable development. The Evolution of the Economy Concepts from the Industrial Revolution to the Digital Revolution. The object of the research is the impact of digital technologies on the evolution of the concepts of economics from the industrial revolution to the digital one. The analysis showed that science uses the previous generation of tools as a basis for the creation of modern ones, which contribute to the emergence of more powerful ones due to the circular cycle of communication, which is constantly increasing. The current struggle for digital transformation is accelerating, because it is about constant adaptation. Research Methodology. The system of methods and principles of scientific research – analysis and synthesis, abstraction, historical and logical – has been used to conceptualize the evolution of economic concepts from the industrial revolution to the digital one, Influence of the latter on the development of technological changes as a set of theoretical understandings, by means of which the science describes real facts, explains and solves economical and social problems in practice. The result of the research. The basis for the evolution of the economics concepts from the industrial revolution to the digital is the progress of technology, which has led to the improvementhe most important innovations have been created, which demonstrate the power of the new mentality. The main objective is to formulate a model for the interative development of new business trends and the digitalization of existing trends and technologies, for which it was determined how to compete with existing businesses through the use of digital technologies. The digital innovation economy demonstrates the importance of information technology in the economy, the increasing trends of computerization and the possibilities offered by this technology, where consumers have quick and easy access to the global market and to the information about products and services. Under the conditions of digital innovation economy, the use of information technology gives businessmen new opportunities to access global innovation markets, business development online. The full realization of these potentials is important for new enterprises and companies, which can compete and create competitive advantages in the world, forming a new culture of innovation thinking.