Authors: Aleksei V. Bogoviz
Addresses: Independent Researcher, Moscow, 125284, Russia
Abstract: The purpose of the paper is to determine the limits of the pleasure economy in Industry 4.0 in view of the specifics of developing countries. The methodological basis of the research includes a complex of methods of economic statistics: correlation and regression analysis, analysis of variation, and Monte Carlo method, which envisages generation of random numbers, probabilistic analysis, and creation of a histogram. The research objects are 12 developing countries from the IMD ranking of digital competitiveness. It is proved that in developing countries the potential of Industry 4.0 in stimulation of formation of the pleasure economy is very limited. Only limited success could be reached in formation of the pleasure economy based on Industry 4.0 in developing countries. Therefore, the limits of the pleasure economy in Industry 4.0 are narrow in developing countries.
Keywords: limits; pleasure economy; quality of life; Industry 4.0; digital economy; digital competitiveness; developing countries; automatisation; highly-efficient jobs; human resources; intellectual capital; satisfaction of public needs; happiness.
International Journal of Trade and Global Markets, 2021 Vol.14 No.4/5, pp.341 - 348
Received: 04 Feb 2020
Accepted: 19 Mar 2020
Published online: 13 Jul 2021 *