Description
Book SynopsisFor centuries, industrialization and factory-based production have been core ingredients in economic growth, development, and innovation. This symbiotic relationship between industrialization and economic prosperity is now changing. ''Megatrends'' - trends within the domains of technology, economy, society, and ecology that have a global impact - are changing the ability of the manufacturing sector to serve as the engine of growth, changing traditional ideas of technological progress, and changing growth and development opportunities in both the global South and the global North. Four megatrends are particularly worthy of note: the rise of services, digital automation technologies, globalization of production, and ecological breakdown. In this book, Jostein Hauge provides a novel analysis of how these megatrends are changing industrialization, and charts new pathways for industrial policy and global governance. He also offers a wide-ranging account of the role of technology, globalizat
Trade ReviewFactories and economic progress have been linked-for better and worse-since the Industrial Revolution. Modern factories are far removed from the grimy mills of the 19th century, but what is their 21st century future? In a compelling analysis, Jostein Hauge explores the massive economic transformations under way now to draw out lessons for countries contemplating a "post industrial" economy and for those yet to achieve industrialization. * Diane Coyle, Bennett Professor of Public Policy, University of Cambridge *
The Future of the Factory presents new insights and critical issues surrounding industrialization and development. This novel contribution to the existing literature on industrial policy will stimulate debates on how these trends will evolve and shape the industrial revolution in the 21st century. The implications of these megatrends for developing countries are that industrialization and industrial policy, and developing technological capability, will remain central in the new changing landscape. Policymakers, business leaders, and scholars will benefit from reading this book. * Arkebe Oqubay, British Academy Global Professor, SOAS University of London, and author of Made in Africa *
In this book, Jostein Hauge shows how it is the factory, not the market, that has shaped the modern world. He then looks at how the factory-and thus our economic world-is currently being reshaped. In doing so, Hauge takes on the biggest challenges of our time-be they globalization or ecological breakdown-but is never swayed by hype. He questions even the most widely received wisdom but only when there is a firm empirical basis. He makes bold claims but never loses balance and realism. This is a gem of a book that will be an essential guide to understanding the future of the world economy. * Ha-Joon Chang, SOAS University of London, author of 23 Things They Don't Tell You About Capitalism and Edible Economics *
The global economy has been fuelled by pervasive and uneven patterns of industrialization for more than two centuries. Jostein Hauge's new book reveals how significant new megatrends are reshaping both globalization and industrialization in the 21st century. The book is particularly insightful in offering critical assessments of topics like the impact of digital automation on production jobs, the rise of manufacturing-related services including artificial intelligence, and the dire planetary consequences of ecological breakdown if current development strategies are not fundamentally revamped. Written in an engaging style for a broad audience, this is a highly recommended and informative book that couldn't be more timely. * Gary Gereffi, Emeritus Professor of Sociology and Director of the Global Value Chains Center at Duke University *
Table of ContentsIntroduction 1: Industrialization in context: History and theory 2: The rise of services 3: Digital automation technologies 4: Globalization of production 5: Ecological breakdown 6: Industrial policy for the future Conclusion: A factory in the future References
