The Effects of Fourth Industrial Revolution with respect to International Political Economy and Turkey

Year 2018, Volume: 6 Issue: 2, 0 - 0, 17.09.2018

Mehmet Özkan , Arzu Al , Serkan Yavuz

https://doi.org/10.14782/ipsus.460135

Cited By: 7

Abstract

First Industrial Revolution, which is a product of steam engines invention in 18th century, along with

the spontaneous increase of scientific studies has caused increases in technological developments. This

condition, after passing different stages till reaching 2000’s, has paved the way for the Fourth Industrial

Revolution. The main difference between the so-called Industry 4.0 and the other revolutions is the quick

expansion of technological developments. Moreover, Fourth Industrial Revolution, which is also called

Industry 4.0, causes serious paradigm changes in governments, businesses and even in all segments

of the society. Production occurs with the interaction of different technologies and automation of the

system in the production improves each day. This automation has been made possible through “cyber

– physical systems”, “internet of things”, and “internet of services” terms, thus causing a continuous

decline in the demand for human labor in the production process. Continuous decline in the demand

for human labor along with wide-spreading automation, has emerged as a subject matter that needs

to be evaluated in the framework of international political economy because eastern countries that

attract foreign direct investments through their cheap labor will probably bring subtle problems in

the global economy if these investments are withdrawn. Furthermore, countries that have effectively

implemented industry 4.0 implementations are likely to gain significant competitive advantages in the

global economy, and these advantages will be further enhanced by improved developments. Turkey,

having less labor force as compared to the western countries and aiming to enter G10 countries, needs

desperately to keep up with the Fourth Industrial Revolution era in order to reach this goal. Thus, this

study through explaining the Industry 4.0 period evaluates its impact on global economy and Turkey.

Keywords

Fourth Industrial Revolution, Industry 4.0, International Political Economy, Turkey

Uluslararası Politik Ekonomi Açısından Dördüncü Sanayi- Endüstri Devrimi’nin Etkileri ve Türkiye

Abstract

References

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