Pleasure economy vs. industrial economy in developing countries in Industry 4.0 Online publication date: Sat, 31-Jul-2021
by Sergei V. Shkodinsky; Olga V. Titova; Elena A. Sulimova; Oleg G. Karpovich
International Journal of Trade and Global Markets (IJTGM), Vol. 14, No. 4/5, 2021
Abstract: The purpose of the paper is to develop a scientific concept of using transition to Industry 4.0 as a mechanism of formation and development of the pleasure economy for stimulating the sustainable development and increase of quality of life in developing countries. The authors determine multiple regression dependence of the index of application of technologies of Industry 4.0 and the green economy index on the sectorial structure of GDP according to the World Bank and determine the optimal share of each sphere that is necessary for achieving the target value of the index of application of technologies of Industry 4.0 and the green economy index. The authors prove that if state interference with Industry 4.0 is insufficient, this will strengthen their industrial specialisation, and the economy will be built on this. This will lead to increase of ecological costs and to decline of quality of life.
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