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The Future of the Factory: How Megatrends are Changing Industrialization

Online ISBN:
9780191893575
Print ISBN:
9780198861584
Publisher:
Oxford University Press
Book

The Future of the Factory: How Megatrends are Changing Industrialization

Jostein Hauge
Jostein Hauge
Assistant Professor, Department of Politics and International Studies, University of Cambridge
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Published online:
23 November 2023
Published in print:
26 September 2023
Online ISBN:
9780191893575
Print ISBN:
9780198861584
Publisher:
Oxford University Press

Abstract

For 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, globalization, and ecology in shaping the world economy. The Future of the Factory shows that industrialization remains a cornerstone of economic prosperity, but that power asymmetries in the world economy create uneven opportunities for achieving economic growth, development, and industrialization.

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