The Fourth Industrial Revolution & What Were Those Other Two?

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So apparently we are due for a fourth industrial revolution, which might come as a surprise to you because as far as most people can tell we have only had one industrial revolution, and some nations haven’t even got around to that one yet.
All the same, this promise of a radical shift in the way we live our lives has got a lot of economists very excited and maybe a little bit anxious, both for very good reasons.
The first industrial revolution, you know the one that we all think is the only industrial revolution was responsible for giving us production.
This production went on to define our way of life in the modern world where people in advanced economies have access to practically unlimited food, robust housing, and bits and bobs to fulfill our every little desire.
The world before this was very stagnant. The idea that we have economic growth at all, where society is always advancing and every generation is richer than the one that came before it is a surprisingly modern ideology.
What’s more, is that it’s not something that we are guaranteed. We can only get so good at making stuff given our current set of technologies and resources, and in fact, we might already be starting to see this plateau.
Arguably the rollout of smartphones that gave us unlimited access to information wherever we were, was the last great paradigm shift in how we lived our lives.
13 years later this technology is improving but it doesn’t offer anything fundamentally different to the way that we live our lives, run our economies or advance our standard of living.
But maybe we are getting ahead of ourselves.
To really know what to expect from this supposedly incipient fourth revolution we must first understand a few key things.
How do economists define an industrial revolution? What is a revolution and what is just some cool new technology?
What were those other two industrial revolutions?
What is going to be the fourth industrial revolution?
And will this make our modern economies look like the land before steam engines?

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Reacties

  1. Cancer Called Human Species
    Cancer Called Human Species
    22 uur geleden

    Erevy generation is richer than the generation came before and also some of them poorer than predecessor

  2. Thomas Waldrop
    Thomas Waldrop
    22 uur geleden

    So, as a follow-up, even with the current supply issues, did you get your new 3090? :)

  3. Cancer Called Human Species
    Cancer Called Human Species
    22 uur geleden

    Then will come Quantum Computers and Quantum Technologies.... That would be the greatest Industrial Revolution

  4. treadstone176
    treadstone176
    Dag geleden

    I think the definition of an industrial revolution could be given more depth. The main elements of a revolution are power technology, communication technology and transportation technology. The first Industrial revolution started when newcomen engine was married to a steam condenser. This allowed the steam engine to have broad utility than pumping water from mines. This engine led to textile factories and mass employment. The trains and ships run by steam engines provide the transportation and the telegraph the communication. It was the age of the steam engine fueled by coal. The second industrial revolution was the electrification powered by power stations(steam turbine) and distributed by an electric grid. It liberated power from it source, and allowed electric motors to be ubiquitous in factories. The invention of the internal combustion engine led to ships, trains, cars and planes powered by oil which provide the transportation. The telephone, radio and television provided the communication. The factory was reorganised into assembly lines and specialisation of labour to result in mass production. This was the age of electricity and mass production provide by oil. The third industrial revolution was about computation and the internet. This transformed power, communication and transportation technology. Electronic control systems(integrated circuit chips) became embedded in technology, computers an integral part of life and work. The internet allowed these computers to be networked which resulted in an information revolution and the knowledge economy. It liberated information from geography. The fourth industrial revolution is premised on AI, Automation and Renewable energy. With this revolution, we are nearing achieving a world the ancient Greeks yearned for, a world defined not by fulfilling our basic survival needs (working) but by living life ( arts and culture - values).

  5. Fallen Down
    Fallen Down
    2 dagen geleden

    4:00 well you have gold play button now so they must care right

  6. Thom Harrison
    Thom Harrison
    2 dagen geleden

    This one really does waffle and take a long time to get going, while the stock videos seem even more irrelevant than usual. You can do better, EE.

  7. Fred T
    Fred T
    3 dagen geleden

    Do you think creation of electricity caused a industrial revolution? Seems to me it did..

  8. Mark B.
    Mark B.
    5 dagen geleden

    10:25 love the Doug DeMuro cameo 😂

  9. Henrik Hansen
    Henrik Hansen
    6 dagen geleden

    I think there have been 4 industrial revolutions already with modern refrigeration being one of them. Imagine not having your refrigerator how the world would look.

  10. Waitwhat469
    Waitwhat469
    7 dagen geleden

    AI, even the specific intelligence kind is pretty amazing in what it could mean, much like taking machining from art to standard process I see it mostly being a huge cost reduction to any field that deals with data (which is a nearly all, even if they don't know it :P ).

  11. David MacMinn
    David MacMinn
    9 dagen geleden

    Your 4 Industrial revolutions description is woefully inadequate in that it's too information industry centric. You neglect mega advances like electricity, oil energy use, railroads, automobiles, medical advances that reduced childhood death from 50% in 1900 to 5% by 1960, the green revolution of 1950's which enabled a population doubling from 2 billion to 4 billion by 1975, plastics, and even computer integration with bar code reading. AI is not going to radically change the world because automation, sensors with computer integration have already increased manufacturing productivity more than any future changes. What's needed for a manufacturing leap is a deeper understanding of chemical reactivity so that Star Trek replicators are economically viable along with an energy leap that fusion would provide. Throw in a computer brain link up and innovation across all industries would advance exponentially. Then there's the potential for major biological advances so we truely understand Physiology, genetic expression, cancer etc. AI needs to understand how neurology converts into language and information and someday it likely will but will it be so good as to revolutionize our weak understanding of Physics, Chemistry and Biology such that theory drives innovation not the last hundred years of trial and error empirical trials which has driven most of technology.

  12. marlb0r015
    marlb0r015
    9 dagen geleden

    I'm not against the 4th industrial revolution, but i am against the way it is forced upon us by the governments via climateplans etc.

  13. CRACKLES MCFARLEY
    CRACKLES MCFARLEY
    13 dagen geleden

    The Fourth Industrial Revolution began in 2017 and ended shortly after 2021 as we concern on more important things like racism, cultural appropriation and BLM. Maye 2024 will be The Fourth Industrial Revolution. Pray to God for the return to reality.

  14. Supr333me0grelordBricc
    Supr333me0grelordBricc
    13 dagen geleden

    "Yewchewb"

  15. William Shakur
    William Shakur
    14 dagen geleden

    Technology is eliminating all physical labor by 2024 about 85 million jobs will eliminated human will starve to death

  16. Walt 12_go
    Walt 12_go
    16 dagen geleden

    Oh the fleeting dreams and illusions of the heathen.

  17. kereru
    kereru
    19 dagen geleden

    The Book of Revelations: Mark of the Beast.

  18. Sacto1654
    Sacto1654
    Maand geleden

    The next industrial revolution may be the way we generate and store energy. This will lead to the end of using coal and petroleum products to generate electrical power, for starters.

  19. Logan Benner
    Logan Benner
    Maand geleden

    every generation is richer than the previous? Tell that to my homeowner boomer relatives while I sustain myself on top Ramen and laugh my life away into my phone.

  20. Psycho Pathetic
    Psycho Pathetic
    Maand geleden

    Robots became self aware when they learned what "money" is...

  21. Psycho Pathetic
    Psycho Pathetic
    Maand geleden

    Could the invention of fire and the wheel be called the spark that got the train rollling?

  22. Leon Kockaya
    Leon Kockaya
    Maand geleden

    IOTA might be a part of the future 4th Industrial Revolution

  23. James Carnley
    James Carnley
    Maand geleden

    The Fourth Industrial Revolution is us automating bureaucracy and programming provably fair workflows throughout our society using smart contracts. Large sections of our economy will be automated and those resources freed up for more creative uses.

  24. Ravi Jagannadhan
    Ravi Jagannadhan
    Maand geleden

    You should get a 3990X, man those things are sweet!

  25. victor bruun
    victor bruun
    Maand geleden

    more like a continuation of the third since 1970s: digitalisation & automation. First one took some 90 years, second one also some 90 years. Third one has only been ongoing a measly 50 years so far.

  26. Operation Darkside
    Operation Darkside
    Maand geleden

    You see that housing market over there? Beautiful isn't it? Would be a shame if someone built a really big 3D printer, that prints custom houses in ~2 days.

  27. reubenvb
    reubenvb
    Maand geleden

    Just AI as the fourth revolution? Bit anti-climactic. Also do we want chip implants?

  28. avinash das
    avinash das
    Maand geleden

    You must include Electricity and Electrical motors and Edison bulbs in Second Industrial Revolution. But nonetheless nice video 👍

  29. Stephen Troake
    Stephen Troake
    Maand geleden

    I don't understand how we can talk about continued growth when it has never been decoupled from the destruction of ecosystems and stable climate on which we all depend. Can you point me to some reading material that a layperson can understand and maybe another edition of EE where this obvious question is explored? Surely developed nations should be at the top of an S-shaped curve in terms of economic growth (because it no longer serves us), while they work with developing nations as they leapfrog to a similar position? Actually, I would say developed nations are way past the healthy level of economic activity and they need to reduce it to a sustainable or restorative level, but I'm just a layperson. We need to 1) tame the rebound effect and 2) stop having our appetites stimulated to want things that make the world a worse place to live in (sorry NLlike). I don't know how we do that. I suspect it has more to do with values than it does with tools and mechanisms.

  30. BOTAS ROJERO
    BOTAS ROJERO
    Maand geleden

    We are in social media revolution. People get influenced to buy electric cars (Tesla) phones (iPhone) shoes (Nike) ect my business gets business from Instagram and Facebook

    1. BOTAS ROJERO
      BOTAS ROJERO
      Maand geleden

      E-commerce

  31. Saint Arj
    Saint Arj
    Maand geleden

    this video makes me feel happy about the future unlike a ton of other vids

  32. Bill Kong
    Bill Kong
    Maand geleden

    Materials choice is actually not that important. An iron car would be *a bit* less structurally efficient than a stamped steel car. Mild steel is actually not very far off the properties of wrought iron. This is especially true because in many cases, the limiting structural consideration of a part is stiffness, not strength. Iron an steel have essentially identical youngs moduluses and densities. The sort of steel used in swords and gun barrels doesn't have a lot in common with what they use to make skyscrapers and ship hulls. The former is still very expensive today.

  33. Virat Pansuriya
    Virat Pansuriya
    Maand geleden

    Apple be like : standardization what???

  34. Jerome Wright
    Jerome Wright
    Maand geleden

    I worked in chemistry before computers and though chemistry hasn't changed, computer and robotic equipment do it much better than I did by hand. This is why I believe than manned space exploration is doomed to failure. If robots can to Earth based jobs better than humans, why would we ever put humans in space in any great numbers? No need for air and water makes robots the inheritors of outer space.

  35. Doc !!!
    Doc !!!
    Maand geleden

    Can we continue to grow, without destroying the planet????????

  36. Adam Gray
    Adam Gray
    Maand geleden

    Hi. I don’t feel any more informed than I did before I watched your clip. You’re certainly engaging and entertaining, but you have a clip on one of the two most fertile topics you could find... and... not much came from it. You didn’t discuss either the rise of electrification of the world or the astonishing transformation brought about by the internal combustion engine. You also could have zoomed in on a single example to illustrate what it means when an industry get clobbered by a disruptive technology in an industrial revolution. For example, in 2007 - 2008, there were more than a million people employed globally at the three largest global DVD hire stores. Those stores (and jobs) were erased by online streaming services like Hulu and Amazon Prime. Today, there are about 10,000 people employed globally to provide us our movies and ‘Friends’ reruns. You could have also mentioned that the next industrial revolution is being brought about by decentralisation of electricity grids, additive manufacturing (3D printing), AI, big data, the replacement of fossil fuels (the largest industry in the world), the food and fuel from thin air technology, etc. etc. The point is that there are a couple of dozen critical disruptive technologies that will mature and fully commercialise within the next two decades... that’s the ignition. I don’t mean this to sound like an attack. It’s meant as feedback. I’d really, really like to see you dive into these topics. Good luck, be safe, be well.

  37. John Rowan
    John Rowan
    2 maanden geleden

    Its gonna be 3D printing first. Not yet, but but like 5 years.

  38. Bobby Swan56
    Bobby Swan56
    2 maanden geleden

    I'm gonna make MY country Great No.1

  39. David Vador
    David Vador
    2 maanden geleden

    The cloistered lizard steadily seal because bomber functionally confuse apud a secret swamp. malicious, muddled rock

  40. Mariniel Galvão
    Mariniel Galvão
    2 maanden geleden

    I would like to know the impact of the energy industry in the prospects for eternal economic growth. These new technologies are great, but I can't imagine an economy growing forever unless we turn into something like The Matrix and make our entire existence a software program, powering the whole infrastructure with our bodily energy.

    1. CockatooDude
      CockatooDude
      2 maanden geleden

      One way to do it would be building up space based infrastructure and harvesting raw materials that did not originate on Earth. That way, even under technological stagnation the amount of resources we could theoretically harvest would be basically infinite.

  41. Tom Wallace
    Tom Wallace
    2 maanden geleden

    With each industry revolution, we get further and further away from our connection to the planet. Our fifth revolution will be our demise, having killed the “host,” which could be seen as our warning with Covid and the recent rapid onset of these life threatening viruses. This needs to be seriously addressed.

  42. IIIRattleHeadIII
    IIIRattleHeadIII
    2 maanden geleden

    I knew about the first two industrial revolutions.

  43. A - cat
    A - cat
    2 maanden geleden

    I feel like as far as future industrial revolutions go you should also include something micro-biology / DNA / custom medicine etc. Well more like custom everything that is manufactured locally everywhere. sure 3D printing metal parts will ramp up in the next decade but I mean more like computers make custom clothes patterns for you and someone down the road makes that. Like AI does designs, machines take lots of jobs, humans focus on making niche custom items for income type economic shift.

  44. Jim Bob
    Jim Bob
    2 maanden geleden

    Wait I haven’t seen industrial revolution 1,2 yet

  45. Mr B
    Mr B
    2 maanden geleden

    The fourth industrial revolution is a slag from WORLD ECONOMIC FORUM AND YOU KNOW IT ! Do you get payed by them ?

  46. ガヴリール
    ガヴリール
    2 maanden geleden

    0:55 I got that joke (I think)

  47. Uryendel
    Uryendel
    2 maanden geleden

    Standardization date before the industrial revolution ( it was instituted following the french revolution), steel production came from the industrial, so only two revolution happen: the industrial revolution and the computerization/communication revolution, the next one is not AI (who's part of the computerization) but 3d printing aka the ability to produce any product on demand.

  48. DurianIsLord
    DurianIsLord
    2 maanden geleden

    I enjoy your videos, but how is it possible to discuss and imagine the future with no reference to environmental catastrophes?

  49. Billy Klaklas
    Billy Klaklas
    2 maanden geleden

    The fourth revolution is called the Great Rest and it’s based on transhumanism and making ppl/humans obsolete .... sucking the wealth out of the middle class where ppl own nothing . And the masses depend on the government for essential rations! Research who the globalist are and what there initiative is!

  50. vOid wAlkEr
    vOid wAlkEr
    2 maanden geleden

    AI and Quantum Computing are on another level than any other thing in the current world

  51. Gurjinder Singh
    Gurjinder Singh
    2 maanden geleden

    I am at 1:55 mark and answer to last question will be "Not Exactly"

  52. Gavin Nash
    Gavin Nash
    2 maanden geleden

    We need universal basic income to adapt to these changes. Otherwise the society will disintegrate lead to more unrest and violence.

  53. Odd Job
    Odd Job
    2 maanden geleden

    There is no giant leap. The poor will always be poor and the elite mega rich will always be rich. Nothing ever really changes.

  54. Jack Whetnall
    Jack Whetnall
    2 maanden geleden

    with these revolutions does there not come an inherent reduction in stability due to our dependence. its hard for me to imagine steel manufacturing, or standardization to 'fail' but i can imagine the internet and computers failing. through solar flares, electrical grid failure etc. you are optimistic about the future, but I fear our ever increasing instability.

  55. Yash Agrawal
    Yash Agrawal
    2 maanden geleden

    The conclusion is not justified without talking about the environment.

  56. I would prefer not to
    I would prefer not to
    2 maanden geleden

    >a frogposter

  57. Cy Porter
    Cy Porter
    2 maanden geleden

    I'm surprised you didn't mention automation and robotics. To me it seems like that is the revolution that is happening right now and will radically change what jobs people can get.

  58. Christian Mancia
    Christian Mancia
    2 maanden geleden

    Cryptocurrency is the next Industrial revolution

  59. Matthew Kelleher
    Matthew Kelleher
    2 maanden geleden

    Hhhwhat is a youchoob?

  60. Andrew MORRISON
    Andrew MORRISON
    2 maanden geleden

    I’m not convinced the closing statement 12:15 / 12:33 is correct. It’s a modern phenomena from the financial institutions and governments that have used quantitative easing or printing money to allow “us” to be wealthier. It’s definitely allowing a minority to get wealthier but the poor remain poor. Smoke and mirrors.......

  61. Glenford Burrell
    Glenford Burrell
    2 maanden geleden

    There was only one industrial revolution just like there was one golden age of Rock and Roll. Developing a new drive train for an EV doesn't mean that we have entered a new dawn. The same principles and theories contrived 200yrs ago still apply today you Australian Pratt.

  62. Yosef Robinson
    Yosef Robinson
    2 maanden geleden

    Let's call the 3-4 "industrial revolutions" just "sub-revolutions" of the Industrial Revolution! (Edit:) I like how the four sub-revolutions are categorized as 1a, 1b, 2a, and 2b.

  63. SuppaiMono
    SuppaiMono
    2 maanden geleden

    4th revolution: making many products dirt-cheap through innovative manufacturing automation? 🤔

  64. L C
    L C
    2 maanden geleden

    39e

  65. Social Media Meham
    Social Media Meham
    2 maanden geleden

    Each revolution can be seen in that, they change the face of society, each one building upon the developments from the prior revolutions. The situation we are in now is, humanity is beginning to get bogged down by our exponentially growing knowledge. It might be possible to use groups of people to mine through the data and connect one piece of knowledge with another seemingly unrelated piece. A.I. can do this faster than humans, but I think as has been the case in other situations; a mix of A.I. and humans may perform better than either alone.

  66. Thomas Walker
    Thomas Walker
    2 maanden geleden

    Economics is business propoganda, period. It cherry 🍒 picks what it is willing to consider in the equation (argument). Example: if externalities were considered the argument for or against the premise would be drastically changed. @5:55 auto transport should be significantly more expensive, if the externalities were included, such as oil subsidies, climate pollution and fatalities, ergo I don't think the world's population would consider the oil/auto transport industry good for the world 🌍

  67. stuart neil
    stuart neil
    2 maanden geleden

    What about electricity as the third industrial revolution? It kind of goes with standardisation , maybe slightly later. Electric machines enabled production of goods to be located separately from energy production e.g. nearer markets or nearer other raw materials. Electrical machines are also more precisely controlled , start instantly, are more efficient and can be smaller than steam machines, thus positioned for more varied work. Not forgetting the productivity benefits in lighting homes, factories and offices and the time saving domestic and office machines like vacuum cleaners, washing machines, printing machines, elevators etc..

  68. DuderinoDeux
    DuderinoDeux
    2 maanden geleden

    Nano implants, self driving cars. CHAOS. MANY WILL OPT OUT.

  69. Philip
    Philip
    2 maanden geleden

    I’ll save you 13 mins of your life: AI could possibly be another industrial revolution

  70. Dinil
    Dinil
    3 maanden geleden

    3:55 no EE. I will definitely ask to see your silver play button. Trust me. 😘

  71. Khurram Hasan
    Khurram Hasan
    3 maanden geleden

    The second Industrial Revolution also introduced Electricity. Without electricity, the subsequent rapid development in industry and society as well as the 3rd and 4th Industrial Revolutions would not be possible.

  72. Guinness
    Guinness
    3 maanden geleden

    The majority of the population in Western economies have seen wages and standards of living stagnate for the last ten years. In Japan they've seen the same thing for 20. I'm not sure that's going to change anytime soon. This generation is likely to grow up worse off than their parents

  73. gabe 54
    gabe 54
    3 maanden geleden

    “They’re not after me, they’re after you.” -Donald J. Trump

    1. Guan Han
      Guan Han
      2 maanden geleden

      @Harshit Jain close guess but not close enough. There aresome chinese and indian population in malaysia btw and i am from there, not ccp. As i said, i do not support ccp or russia and the only reason to use vpn is to watch phuhorn.

    2. Harshit Jain
      Harshit Jain
      2 maanden geleden

      @Guan Han from your name I guess even you are "Chinese citizen accessing NLlike through VPNs.

    3. Harshit Jain
      Harshit Jain
      2 maanden geleden

      @Guan Han oh no no dear!!😔 These "they" in Indian perspectives are Terrorist outfits operating from Pakistan and various separatist movement within India funded by CCP of China. (Since I know I used that "C" word, maybe my comment never reaches you but if it reached to you drop a "seen"😝)

    4. Guan Han
      Guan Han
      2 maanden geleden

      @Harshit Jain oh so like opposition parties? But isnt that common in a thriving democratic system? Cant the same be said by biden now? Like the republicans are after you, i am in their way. Or this quote can only be said by right wing nationalist people?

    5. Harshit Jain
      Harshit Jain
      2 maanden geleden

      @Guan Han they : "You know who" in Harry Potter style😉

  74. gabe 54
    gabe 54
    3 maanden geleden

    -ECONOMIC CRASH -DISARMED CITIZENS -FAKE PANDEMIC WAKE UP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!👺

  75. Nathan Sealey
    Nathan Sealey
    3 maanden geleden

    Also for very expensive cutting hand tools (just the tip) & clocks.

  76. youngwt1
    youngwt1
    3 maanden geleden

    I’m surprised electrification isn’t considered it’s own revolution, it changed the architecture of factories, allows working at any time of night. I can’t imagine a bigger before and after for the late nineteenth century

  77. Dz P
    Dz P
    3 maanden geleden

    0:43 - a castle in Ukraine

  78. Ben Grogan
    Ben Grogan
    3 maanden geleden

    The next revolution may be near immortality . Just a thought.

  79. The Bangers
    The Bangers
    3 maanden geleden

    Babylon the 'great' is about to fall. Everyone who mocks God and thought the Bible was primitive manipulation is about to find it is the word of God and contains the true revelation of Jesus Christ the Son of God and his salvation is available to all who repent of their sins and put their trust in Him. There is still time but not much left. Judgement is coming soon. Don't put your trust in riches or in man. Come to Jesus Christ and do not delay.

  80. 30803080308030803081
    30803080308030803081
    3 maanden geleden

    Industrial Revolution 2, Part A: We have computers, and they can do some cool things. Industrial Revolution 2, Part B: Computers can do everything.

  81. Danielle Frechette
    Danielle Frechette
    3 maanden geleden

    Have you kept up with the Elon Musk revolution? Spacex and Boring, Starlink, is making humans input obsolete. Wealth will come from where? What's your take on Universal Basic Income?

    1. E. E. Nulla Salus
      E. E. Nulla Salus
      3 maanden geleden

      UBI and cancellation of individual debt are temptations offered by the IMF in exchange for the confiscation of your private property. The WEF has made it clear that they hope to achieve this by 2030. They will also impose digital ID and health passports. You won't receive enough money to support a family, but they'll give you enough to have a phone, netflix etc.

  82. Grant Lenaarts
    Grant Lenaarts
    3 maanden geleden

    The best categorization is simultaneous revolutions in 1.Transport 2.Communication and 3. Energy, thus affecting all industries. The THIRD = Electricity, Car & Telephone. Notable spin-offs = underseas cables, Information theory ( Claude Shannon). Therefore the next Revolution happens when : 1.Autonomous Vehicles, 2.Blockchain + AI = distributed Mesh that unlocks IoT ( Internet of Things ) = distributed machine communication + constellation internet ( Starlink etc ) = {micropayments on the internet} & 3. Battery storage + Renewable Energy. Happily, all will be online and spreading rapidly by 2030. Until then it's early for this next Revolution.

  83. Just Paul
    Just Paul
    3 maanden geleden

    Bullshit its already here look at factories already 50% work does robot and computers

  84. Juke
    Juke
    3 maanden geleden

    “Titanium used very sparingly” yeah ok tell that to the car guys we will gladly disagree :)

  85. Matthew
    Matthew
    3 maanden geleden

    Fire (Pre-Stone Age) - Provided light, warmth, protection from predators, extra energy, cooked food... Agriculture (Neolithic Revolution, 10,000 BC) - Allowed humans to settle in one place and diversify tasks Metalworking (Eneolithic Age, 2,500 BC) - Superior tools expanded civilizations capabilities Gunpowder (800s) - Superior weapons revolutionized warfare and governance Printing Press (1400s) - Mass availability of literature enabled mass literacy and a significantly more educated populace Columbian Exchange (1500s) - Doubled earth's landmass, brought new goods to the Old World, enabled the dominance of Europe Steam Engine (1700s) - Mass production and increased efficiency Germ Theory (Late 1800s) - Modern medicine drastically improved quality and length of life Electricity (Late 1800s) - Increased production, efficiency, and dramatically expanded quality of life while enabling more innovation Radio (Late 1800s) - Immediate mass communication truly globalized the world Green Revolution (1900s) - Pesticides, fertilizer, and genetic engineering effectively ends food scarcity Computer (Mid 1900s) - Increased production, efficiency, and dramatically expanded quality of life while enabling more innovation Artificial Intelligence (Early 2000s) - ? Nuclear Fusion (?) - Effectively ends energy scarcity and ?

  86. BookofYAH777
    BookofYAH777
    3 maanden geleden

    You covered the 1st, 2nd and 4th industrial revolution, but what about the 3rd? 1st: industrial machinery 2st: digitalization 3rd: ??? 4th: automation by AI

  87. Julian Flandorfer
    Julian Flandorfer
    3 maanden geleden

    EE, thanks for the very interesting Video. I missed production factors, though, as the change in main production factors is an important aspect of technological, economical and social evolution as well (like, human skills and force for hunter-gatherers, land for agrarian societies and capital for industrial societies). This is probably due to the fact, that one could make a whole new video only about production factors and their historical evolution. I'd love to see a video about this! Also, it seems to me that with this fourth Revolution, Information as a production factor is going to rise in importance and eventually be even more significant than capital, our main production factor nowadays. If you do such a video, I'd be interested to hear your opinion on this!

  88. Mighty Monkey
    Mighty Monkey
    3 maanden geleden

    I like Hot Chocolate

  89. Understanding
    Understanding
    3 maanden geleden

    Coal powered the 1st, Oil powered the 2nd and 3rd industrial revolution. And Electrification and abundant electricity will power the 4th

  90. Antony werner
    Antony werner
    4 maanden geleden

    the most thinks that a don in standardization a German Standards, for me as a German it is interesting we have Standards for anything.

  91. mountain dreamer
    mountain dreamer
    4 maanden geleden

    Becoming more wealthy in future? Who is we? My guts says the elite have a plan that has the masses in low class technology to concentration camps and robots performing most all chores. Humans surveyed and tracked like dogs while they live the good life. Is that not in a way what we see now? If a one world communism that terrorists like BLM fight for come to pass, we will all be in slave camps in this lifetime.

  92. J Jones
    J Jones
    4 maanden geleden

    First: FIRE Second: WHEEL

  93. Morten Brodersen
    Morten Brodersen
    4 maanden geleden

    We are *very* far from having anything even remotely close to "artificial general intelligens". Most current "AI" is the same old optimization/constraint/tree search algorithms re-marketed by creative marketing departments as something shiny and new. The only reason why we are seeing interesting new applications (auto driving etc.) is because of the dramatic increase in performance of GPU's.

  94. Andrew H
    Andrew H
    4 maanden geleden

    Not counting AI and maybe Fusion energy, the 4th revolution, is really an evolution.

  95. Benigno Songayab
    Benigno Songayab
    4 maanden geleden

    There's a coming fifth, the ultimate "Golden Age", it's called the Millenial "Revolution" Reign of JESUS CHRIST. The only way you can enter this age is to repent of your sins to GOD and believe in HIS SON; JESUS is coming back, John 14:1-3; Revelation 22:12, 20

  96. Marcelino Deseo
    Marcelino Deseo
    4 maanden geleden

    How about the agricultural revolution?

  97. itney
    itney
    4 maanden geleden

    AI is not going to make people more prosperous. It will take over their jobs.

  98. Johnny ontheSpot
    Johnny ontheSpot
    4 maanden geleden

    Here is an idea for someone there: Paypal. - You can store money with them where it's not necessary to document with the Government -*However* it is like giving money to a friend - where nothing is documented - and you are never sure if you'll ever see that money again. There is NO physical location anywhere and customer service is by way of the internet or phone only

  99. Joseph Aggarwal
    Joseph Aggarwal
    4 maanden geleden

    In the US, real wages have stagnated for the past 40-50 years. Does this run contrary to your point about economic growth being a given in the modern age?

  100. De La Vega
    De La Vega
    4 maanden geleden

    New subscribers Love from IRAQ