Unfolding technological developments pose a significant challenge in terms of the depth of economic and social transformation needed for their benefits to be fully realized and equitably distributed. Questions are emerging regarding the adequacy of our current economic policies and practices, the social contract between citizens, businesses and governments and the metrics used to assess socio-economic progress.
Four key emerging challenges at this intersection of economics, technology and society and a spectrum of response options are laid out in this white paper, which Berkman Klein Center Executive Director Urs Gasser contributes to:
1. Rethinking economic value in the Fourth Industrial Revolution: do we need to fundamentally rethink what constitutes economic value and what practical avenues exist for doing so?
2. Addressing market concentration in the Fourth Industrial Revolution: do we need to address the market concentration created by online platforms and how can concerns be balanced against benefits?
3. Enhancing job creation in the Fourth Industrial Revolution: do we need to consider proactive measures for job creation and what do they entail in today’s economy?
4. Re-imagining social protection in the Fourth Industrial Revolution: do we need to re-imagine social safety nets and what range of options have been proposed?