Economics of the Fourth Industrial Revolution Internet, Artificial Intelligence and Blockchain Innovation and Technology Horizons Series

This book applies cutting-edge economic analysis and social science to unpack the rich complexities and paradoxes of the Fourth Industrial Revolution. The book takes the reader on a bold, refreshing, and informative tour through its technological drivers, its profound impact on human ecosystems, and its potential for sustainable human development. The overarching message to the reader is that the Fourth Industrial Revolution is not merely something to be feared or survived; rather, this dramatic collision of technologies, disciplines, and ideas presents a magnificent opportunity for a generation of new pioneers to rewrite "accepted rules" and find new avenues to empower billions of people to thrive. This book will help readers to discern the difference between disruption and transformation.

The reader will come away from this book with a deeply intuitive and highly contextual understanding of the core technological advances transforming the world as we know it. Beyond this, the reader will clearly appreciate the future impacts on our economies and social structures. Most importantly, the reader will receive an insightful and actionable set of guidelines to assist them in harnessing the Fourth Industrial Revolution so that both they and their communities may flourish.

The authors do not primarily seek to make prescriptions for government policy, but rather to speak directly to people about what they can do for themselves, their families, and their communities to be future-proofed and ready to adapt to life in a rapidly evolving world ecosystem.

1. Introduction: how and why to understand the Fourth Industrial Revolution; Part I: Industrial revolutions: what they are, why they matter, how to analyse them; 2. Industrial revolutions past, present and future: a brief overview of how we got here and where we’re going; 3. The telos of industrial revolutions: how what people value drives the adoption of new technologies; 4. The "Brisbane Club" model: mind, society, economy as complex evolving networks; Part II: Internet: hyper-competition, hyper-growth and the struggle for attention in global markets; 5. Global markets and the struggle for attention: communication and platforms in the rapidly-evolving internet age; 6. The ocean in your pocket: case studies in global markets and the struggle for attention; Part III: Artificial Intelligence: radical automation and expansion of human capability; 7. The I Robot future: human work in an age of artificial intelligence; 8. The ghost and the machine: case studies in the I Robot future; Part IV: Blockchain: decentralising power, authority and the design of systems of governance; 9. The entrepreneurship of rules: institutions in an age of blockchain; 10. Leaderless revolutions: case studies in the entrepreneurship of rules; Part V: Discussion and conclusions: harnessing the Fourth Industrial Revolution in systems building; 11. The new economy: opportunities, challenges, and what to do about them; 12. Epilogue: a call to engage with a brave new world, and to have contingency plans

Nicholas Johnson is an economist and mathematician. He is the Principal Economist at Economists Without Borders. He also holds research and teaching positions at the University of Queensland and Queensland University of Technology. He holds a Master of Public Policy from the Australian National University, and undergraduate degrees in mathematics and economics (with First Class Honours) from Queensland University of Technology. Nicholas is a World Economic Forum Global Shaper.

Brendan Markey-Towler is a behavioural, institutional, evolutionary economist and an Associate with Economists Without Borders. He was previously a Senior Advisor at Evidn, a global behavioural science company headquartered in Brisbane, Australia. He has researched and taught at the University of Queensland, RMIT University, and University College London and holds a PhD in behavioural, institutional, and evolutionary economics and Bachelor of Economics with First Class Honours and a University Medal from the University of Queensland.