INDUSTRY 4.0 – ANALYSIS OF THE INDUSTRY SECTORS IN CZECH REPUBLIC AND SLOVAKIA

PETER MARINIČ

https://doi.org/10.53465/EDAMBA.2021.9788022549301.297-305

 

Abstract: Industry 4.0 has become very popular topic in recent years for a lot of people, especially economists, technicians but also teachers. All of them are trying to find out how to implement the ideas of Industry 4.0 in their field, how to develop them and what impact the Industry 4.0 would have. A lot of them are worried about radical changes connected with the implementation is ideas of Industry 4.0, as they understand the Industry 4.0 initiative as revolutionary rather than evolutionary change. In the article, there are data from Eurostat for the NACE sectors breakdown from Czech Republic and Slovakia presented as the background for the main idea of not radical change caused by Industry 4.0. The development of chosen economical indexes for the time-period of 1995 till 2018 are analyzed to illustrate the development of the position of human labor and using the machinery in different kinds of sector types. As the aim of the article is to show, that the fear of radical changes connected with the Industry 4.0 initiatives, are not based on hard data and are more emotionally motivated.

Keywords: Industry 4.0, labor productivity, wages

JEL classification: O11, E24

Fulltext: PDF

Online publication date: 12 May 2022

 

To cite this article (APA style): 

Marinič, P. (2022). Industry 4.0 – Analysis of the Industry Sectors in Czech Republic and Slovakia. Proceedings from the EDAMBA 2021 conference, 297 – 305. https://doi.org/10.53465/EDAMBA.2021.9788022549301.297-305