Title: Profits and losses of manufacturers and consumers in the pleasure economy in Industry 4.0 by the example of developing countries

Authors: Elena Y. Astakhova; Galina N. Semenova; Tatyana V. Shchukina; Zhanna A. Telegina

Addresses: Department of Accounting, Analysis and Audit, Financial University under the Government of the Russian Federation, Moscow, 125167, Russian Federation ' Plekhanov Russian University of Economics, Moscow, Russia, Moscow Region State University, Mytishchi, 115093 and 105005, Russia ' Department of Applied Law, Federal State Budgetary Educational Institution of Higher Education "MIREA – Russian Technological University", Moscow, 119454, Russia ' Russian State Agrarian University – Moscow Timiryazev Agricultural Academy (RSAU – MAA named after K.A. Timiryazev), Moscow, 127550, Russia

Abstract: The purpose of the paper is to determine the profits and losses of manufacturers and consumers in the pleasure economy in Industry 4.0 in developing countries. The authors use the method of aggregation and systemic analysis of statistical data for determining advantages and weaknesses of Industry 4.0 in developing countries that are connected to commodity and service markets. Expert evaluations are used for determining the characteristics of activity in the commodity and service markets for manufacturers (and sellers) and buyers in the pre-digital technological mode and in Industry 4.0 and for determining the weights of criteria for consumers, manufacturers, and sellers. It is substantiated that advantages of Industry 4.0 for the pleasure economy in developing countries in the commodity and service markets are very vivid.

Keywords: profits; losses; manufacturers; consumers; pleasure economy; Industry 4.0; developing countries; BRICS; markets; risks.

DOI: 10.1504/IJTGM.2021.116734

International Journal of Trade and Global Markets, 2021 Vol.14 No.4/5, pp.360 - 369

Received: 05 Feb 2020
Accepted: 05 Apr 2020
Published online: 31 Jul 2021 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article