Industry 4.0 and Paradigm Change in Economics and Business Management

  • Dragan Đuričin
  • Iva Vuksanović Herceg
Conference paper
Part of the Lecture Notes in Mechanical Engineering book series (LNME)


The purpose of this chapter is to discuss the impact of change imperative caused by the fourth industrial revolution and new normalities on economy and industrial organizations inside them as well as on society. There is a real threat that the Great Recession from 2008 and counter recession measures exacerbated the global turmoil and diminished capacity to respond adequately on national and company level to new opportunities. Our intention is to offer a conceptual paper. Model of managed capitalism is a reasonable choice for new normalities. Also, we are treating advanced manufacturing as an unavoidable element of new development model for Industry 4.0. We are advocating for “heterodox approach” as a conceptual platform for new economic policies. Also, we will implement this conceptual novelty in case of Serbia giving the framework with concrete vertical and horizontal industrial policies.


Industry 4.0 Model of capitalism New normalities Heterodox approach Industrial policy 


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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Faculty of EconomicsUniversity of BelgradeBelgradeSerbia

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