ABSTRACT
For centuries, industrialization and factory-based production have been core ingredients in economic growth, development, and innovation. This symbiotic relationship between industrialization and economic prosperity is now changing. 'Megatrends' - trends within the domains of technology, economy, society, and ecology that have a global impact - are changing the ability of the manufacturing sector to serve as the engine of growth, changing traditional ideas of technological progress, and changing growth and development opportunities in both the global South and the global North.
Four megatrends are particularly worthy of note: the rise of services, digital automation technologies, globalization of production, and ecological breakdown. In this book, Jostein Hauge provides a novel analysis of how these megatrends are changing industrialization, and charts new pathways for industrial policy and global governance. He also offers a wide-ranging account of the role of technology, globalization, and ecology in shaping the world economy. The Future of the Factory shows that industrialization remains a cornerstone of economic prosperity, but that power asymmetries in the world economy create uneven opportunities for achieving economic growth, development, and industrialization.
MATERIALS RELATED TO THE BOOK
A review of the book published in the Journal of Development Studies.
A conversation about the book at the UCL Institute for Innovation and Public Purpose (video).
A conversation about the book on the podcast, In Pursuit of Development.
A short essay published by The Conversation, summarizing the book’s key arguments.
ENDORSEMENTS
"This is a gem of a book that will be an essential guide to understanding the future of the world economy." - Ha-Joon Chang, Professor of Economics, SOAS University of London, author of 23 Things They Don't Tell You About Capitalism and Edible Economics
"In a compelling analysis, Jostein Hauge explores the massive economic transformations under way now to draw out lessons for countries contemplating a "post industrial" economy and for those yet to achieve industrialization." - Diane Coyle, Bennett Professor of Public Policy, University of Cambridge, author of GDP: A Brief but Affectionate History
"Jostein Hauge's new book reveals how significant new megatrends are reshaping both globalization and industrialization in the 21st century. Written in an engaging style for a broad audience, this is a highly recommended and informative book that couldn't be more timely." - Gary Gereffi, Emeritus Professor of Sociology and Director of the Global Value Chains Center at Duke University, author of Global Value Chains and Development
"The Future of the Factory presents new insights and critical issues surrounding industrialization and development. Policymakers, business leaders, and scholars will benefit from reading this book." - Arkebe Oqubay, British Academy Global Professor, SOAS University of London, author of Made in Africa: Industrial Policy in Ethiopia