Technologization And Biotechnologization Of Economy: On The Edge Of Industry 4.0 And Bioeconomy

Abstract

Improvements in the quantity and quality of the production factors, such as labour, capital and natural resources, especially land, has been seen as the cause of economic growth. Since the third technological revolution emerged, human resources, science and knowledge itself have become the key factor in knowledge based economies. While technological revolutions bring upturn in economies, through increase in productivity and efficiency, it may also become a problematic issue from environmental point of view due to rebound effect, which may paradoxically lead to increase in resource use. Taking in account, that technological revolutions have direct impacts not only on economies, but also societies and environment, we must consider our steps as research and industry becomes more interconnected to achieve faster commercialization of new innovations and technologies. Standing on the edge of two global phenomena, presented by the fourth technological revolution and the bioeconomy concept, we introduce the nature of these phenomena and analyze some aspects and potential risks, which may occur in the time of upcoming technologization and biotechnologization.