Industy 4.0 - Analysis of the Economic Development in the Chosen European Countries

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Year of publication 2019
Type Article in Proceedings
Conference 6th SWS International Scientific Conference on Social Sciences 2019 (SGEM)
MU Faculty or unit

Faculty of Economics and Administration

Keywords industry 4.0; labour productivity; economic development
Description Industry 4.0 has recently become a very actual and interesting issue in many areas for lot of people. The questions of the creation of state economic policy for development of sectors of particular industries and the related question of their support by the state are discussed. If this area can be characterized by a pragmatic, predominantly economically oriented approach, there is a greater degree of emotion in other areas discussed. These emotional categories also include the impact of various Industry 4.0 initiatives on both employees and employment as a whole. The article focuses on the analysis of the development of selected European economies based on data available from the Eurostat statistical database and their comparison. The aim of the analysis is to identify development in industrial production volumes, corporate investments, employment, and in particular labour productivity. Labour productivity is assessed through two indicators, human labour productivity and total labour productivity included the impact that can be considered as the results of Industry 4.0 initiatives. Based on these available data we point out the rather fluent influence of Industry 4.0 on the particular state economy and the rather positive impact on the labour market. This article summarizes the essential facts and returns the discussion on the impact of Industry 4.0 initiatives on employees and employment from the emotional level to the pragmatic level of fact-based discussion.
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