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The Ongoing Technological System by Smaïl Aït-El-Hadjait

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6The Second Wave of the Technology System Transforms and Reorganizes the Economy and Social Systems

The great technological transformation and its very deep innovation movement have generated a proliferation of new products and services, which in turn have generated new forms of consumption in unprecedented market mechanisms. This configuration is in the process of changing means of production, productivity rhythm, the structure of prices, costs and profits; it brings about new business models, which strongly accelerate the accumulation of capital. At the same time, this powerful technological movement has disrupted the relative contributions of capital and labor and has challenged workers’ skills and trade structures, inducing, in parallel, the erosion of salary employment for the benefit of precarious forms of activity. Nevertheless, this transformational movement is at the moment challenging the current forms of globalization and the international division of labor, as it leads to cancel out the relative cost advantage, mainly in terms of wages, of emerging countries, which may jeopardize the tendency for sustained growth that many emerging countries have experienced for the past two decades.

However, this social transformation induced by this technological innovation movement is not limited to the economic sphere; it is re-shaping the process of knowledge production, with the alteration of forms of research and development. At the same time, the profound disruption of training ...

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