New Institutions for Socio-Economic Development: The Change of Paradigm from Rationality and Stability to Responsibility and Dynamism

New developments in global economic systems and markets are driving systemic changes in socio-economic development strategies and practical approaches. Factors such as Industry 4.0, the transition from unlimited globalization to limited globalization, and the growing importance of regionalization are shaping these changes. The need for faster innovation, sustainable development, and balance in socio-economic development is also emphasized. The book aims to provide a scientific basis for this new paradigm of socio-economic development.

\n Format: Hardback
\n Length: 200 pages
\n Publication date: 08 June 2021
\n Publisher: De Gruyter
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Strategies and practical approaches for socio-economic development are undergoing a profound transformation driven by the ever-evolving global economic systems and markets. The most significant factors shaping these changes revolve around the advent of the Fourth Industrial Revolution (Industry 4.0), which is exerting a profound impact on all economic systems, to varying degrees. The creation of the digital economy and the transition to Industry 4.0 have heightened the importance of high-tech for socio-economic development.

Secondly, a transition is underway from an era of unfettered globalization and comprehensive integration to a more limited and selective approach. The growing significance of regionalization within the global economic system is evident in the formation and rapid development of new integration unions at the regional or country level, such as the EU and the EAEU. At the company level, we witness the emergence of regional sectoral economic clusters, special economic areas, technological parks, and innovative networks.

Thirdly, there is an urgent need for accelerated innovation, which is propelling the formation of more innovative economies. The global financial crisis brought attention to the challenges of managing sustainability and achieving balance in socio-economic development. The emergence and exponential growth of the information society, built upon digital technologies, is stimulating the growth and significance of corporate social and environmental responsibility as a prerequisite for entrepreneurial success.

As a result, the paradigm of socio-economic development is shifting from absolute rationality and stability, historically associated with stagnation issues, to responsibility, with limited resources. This transformation encompasses a broader perspective that recognizes the interconnectedness of economic, social, and environmental factors, aiming to create a more sustainable and equitable future for all.

\n Weight: 502g\n
Dimension: 178 x 245 x 19 (mm)\n
ISBN-13: 9783110699838\n \n