From the course: Foundations of the Fourth Industrial Revolution (Industry 4.0)
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Economic and demographic shifts
From the course: Foundations of the Fourth Industrial Revolution (Industry 4.0)
Economic and demographic shifts
- Understanding the major changes taking place in the world today requires us to step back and take a look at some influential macro factors. I'll explore what I believe are two of the most important areas, economic and demographic shifts. Let's begin with economics. In the early 1800s, over 80% of the world's population lived in extreme poverty. By 2015, 200 years later, that number had dropped to 9%. This reduction has occurred despite the world's population growing 800%, leaping from 1 billion to 8 billion today. During the 20th century, despite two catastrophic world wars, many economies flourished and created remarkable new innovations. The century began with most homes lacking electricity and ended with a computer powerful enough to beat a human at chess. Economic circumstances dictate which societies will thrive and those that will struggle. In particular, the last few decades of the 20th century have seen…
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