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Automation, capitalism and the end of the middle class

Author: Jon-Arild Johannessen
Publisher: Abingdon, Oxon : Routledge, 2019.
Series: Routledge focus on economics and finance.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
In this book, the author argues that a new form of capitalism is emerging at the threshold of the Fourth Industrial Revolution. He asserts that we are in the midst of a transition from democratic capitalism to feudal capitalism and highlights how robotization and innovation is leading to a social crisis for the middle classes as economic inequality is on the rise. Johannessen outlines the three elements -  Read more...
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Genre/Form: Electronic books
History
Additional Physical Format: (OCoLC)1088542883
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Jon-Arild Johannessen
ISBN: 9780429289415 0429289413 9781000020502 1000020509 9781000020663 1000020665 9781000020342 1000020347
OCLC Number: 1098174042
Description: 1 online resource.
Contents: Prologue 1. Lords and peasants in the Fourth Industrial Revolution 2. Robotization and the dissolution of the middle class 3. "Men in suits" are promoting extreme economic inequality Appendix: Historical account of the use of the term "feudal capitalism"
Series Title: Routledge focus on economics and finance.
Responsibility: Jon-Arild Johannessen.

Abstract:

In this book, the author argues that a new form of capitalism is emerging at the threshold of the Fourth Industrial Revolution. He asserts that we are in the midst of a transition from democratic capitalism to feudal capitalism and highlights how robotization and innovation is leading to a social crisis for the middle classes as economic inequality is on the rise. Johannessen outlines the three elements - Balkanization, the Great Illusion, and the plutocracy - which are referred to here as feudal structures. He describes, analyzes, and discusses these elements both individually and in interaction with each other, and asks: "What structures and processes are promoting and boosting feudal capitalism?" Additionally, the book serves to generate knowledge about how the middle class will develop in the Fourth Industrial Revolution. It shows the various effects of robotization on the middle class, where middle class jobs are transformed, deconstructed, and re-constructed and new part-time jobs are created for the middle class. Given the interest in the Fourth Industrial Revolution, the book will appeal to students of economic sociology and political economy as well as those in innovation and knowledge management courses focusing upon the emerging innovation economy. The topic will attract policymakers, and the accessible and engaging tone will also make the book of interest to the general public.

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