Economic and Legal Foundations of Innovative Development in the Digital Age

The digital age is a modern stage of society and economy, characterized by the widespread use of digital technologies such as the Internet and mobile communication. It has the highest rate of technological progress in the history of industrial revolutions, leading to two specific features: society and economy progress together, and digitalization takes place in waves. This book offers a new scientific and methodological approach to managing innovative development in the digital age, focusing on active, continuous, and comprehensive interaction between government, society, and entrepreneurship. It is aimed at scholars, practitioners, and public administration bodies, providing fundamental developments, empirical overview, case studies, and recommendations for innovative development in state and law, society, and economy.

Format: Hardback
Length: 221 pages
Publication date: 24 June 2022
Publisher: Nova Science Publishers Inc

The digital age represents a transformative phase in the evolution of society and economy, commencing with the widespread adoption of the initial digital technologies, including the Internet and mobile communication. This era reached its zenith during the Fourth Industrial Revolution, fueled by the widespread dissemination of advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI). Notably, the digital age boasts the most rapid rate of technological advancement in the history of industrial revolutions, setting two distinct characteristics. Firstly, unlike previous industrial revolutions, where certain companies embraced new technologies while others persisted in outdated modes due to societal norms, the society and economy have progressed harmoniously alongside each other. Secondly, digitalization unfolds in waves, occurring continuously and repetitively. This distinguishes the Fourth Industrial Revolution from its predecessors, where technological transitions were fleeting and singular. Consequently, a hypothesis emerged suggesting that the digital age could potentially witness multiple industrial revolutions. Proponents of this viewpoint advocate for examining technological progress on a macro-scale, distinguishing between the pre-digital age, characterized by the first three industrial revolutions, and the digital age, ushered in by the Fourth Industrial Revolution.

Weight: 440g
ISBN-13: 9781685077303