Abstract
Automation is the key word of this century when it comes to describe sustainable development, social evolution, economic empowerment and ease of access to new business solutions. In this paper we try to analyse and re-establish the need to develop, not only as societal and human evolution, but also as a standalone process that shows us that the actual acceleration of automation in everything that surrounds us is actually the next generation of globalization. We also try to analyse the psychological pressure developed of automation and the fact that if we’ll reach an evolutionary ceiling and if it will be followed by a new disruption in the way we see economics. As a research method, we used a mix of methods combining quantitative and qualitative analysis. The main findings have allowed us to highlight the trends in the literature in terms of automation in the era of globalization as well as new practical directions of action. Beyond the pros and cons of globalization, our work allows readers to find new business solutions that contribute to a sustainable development of society, a healthy social evolution, and last but not least an increase in economic power taking into account the risks associated with these changes, including psychologically.
Highlights
For the last three decades, the growth of many global economies has been due to economic development through modern capitalism, which was based on the partial annulment of the Bretton Woods agreement, regarding the gold standard
The methodology highlights how advanced and emerging economies performed over the same sample period and how main stock market indicators reacted to the macroeconomic environment through the lifespan of the Business-Automated Data Economy Model (BDM), the updated version from 2018 [11,12,13,14,15]
The conclusion opens the door for future research on the subject and contemplates on technological evolution and the macroeconomic reordering created by the actual information era that we live in and highlights the turning point for the global economy, who’ll be the weak link, either the technological bubble, or the emergent markets wave
Summary
For the last three decades, the growth of many global economies has been due to economic development through modern capitalism, which was based on the partial annulment of the Bretton Woods agreement, regarding the gold standard In this system individuals and corporations are incentivised by creating wealth while at the same time improving the standard of living for future generations [1]. The modern capitalist system allows individuals of all classes to capitalize on opportunities to create wealth and improve the standard of living [3, 4] In order for this system to work efficiently it is important for both the public and private sectors to collaborate and share strategies and political development by redefining the capitalist system [5,6,7,8]. The impact of financial globalization has been limited in the last 50 years, recent research claims that problems are still being analyzed at the country level [21]
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