Favorites of Fortune: Technology, Growth, and Economic Development Since the Industrial Revolution, Henry Rosovsky, David S. Landes, and Patrice Higonnet, eds. 1991. Harvard University Press, Cambridge, MA. 560 pages. ISBN: 0-674-29520-X. $45.00

In the age of technological and social transformation aimed at establishing basic principles of implementing state economic policy under the challenges of the 4th industrial revolution the role of modernization process in the Russian industry is increasing. The authors justify strategic landmarks for technological modernization of industrial enterprises of Russia. To this end they made comparative analysis of innovation and technological, economic development of a number of countries and Russian Federation as well as estimated the preparedness of certain world countries to transformations in economics caused by changes of technological patterns during the 4th industrial revolution. It has been stated that Russian Federation has structural disproportions slowing down economic development of the country. It also demonstrates the need for performing structural transformations to carry out disruptive development and achieve global leadership. At present there is no single methodology of controlling disruptive development in transformation conditions caused by the need for reindustrialization and digitalization of the country’s economy. Besides, there are not any projects on creating a set of theoretical and practical tools adapted to the Russian institutional specificity aimed at increasing strategic technological competitiveness of the industrial complex and achieving global technological leadership including justification of the practicability of technological modernization of industrial enterprises which would take into account the specificity of the modern stage of the Russian economics’ development. So, the authors have conducted research to reveal the essence of the technological modernization of industrial enterprises by means of grouping basic approaches to this definition. As a result they also suggested classification of the basic types of strategies for technological modernization at the national enterprises.

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Impact of the World’s New Technological Revolution on Economic Development and Educational Reform in the Information Age

Journal of Contemporary Educational Research ◽

10.26689/jcer.v5i11.2802 ◽

2021 ◽

Vol 5 (11) ◽

pp. 207-216

Author(s):

Feng Cao

Keyword(s):

Economic Development ◽

Educational Reform ◽

Industrial Revolution ◽

Information Age ◽

Human Society ◽

Wealth Creation ◽

Technological Revolution ◽

Fourth Industrial Revolution ◽

Important Impact

The fourth industrial revolution of human society is also known as the “world’s new technological revolution,” which has brought human society into the information age and has had an extremely important impact on economic development and educational reform. In the information age, economic development and wealth creation are dominated by the acquisition, mastery, distribution, and utilization of information instead of capital. Therefore, the cultivation of talents is very important, and educational reform is imperative with the rise of the world’s new technological revolution.

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