THE VALUE ADDED AND THE TRANSFORMATIONS OF ECONOMIC SCIENCE IN THE DIGITAL AGE
THE VALUE ADDED AND THE TRANSFORMATIONS OF ECONOMIC SCIENCE IN THE DIGITAL AGE

Author(s): Silviya Topleva
Subject(s): Economy, Business Economy / Management
Published by: Икономически университет - Варна
Keywords: value added; industrial revolution; digitalization; transformation; economic science
Summary/Abstract: The technology deployment provokes changes in the production relations and economic structure of societies. Every major industrial revolution (for example, the First and Third Revolutions) was followed by a subsequent technical revolution (respectively, the Second and Fourth Revolutions), which expands the innovation business potential and determines a new pathway for the economic theory development. The contemporary digital revolution is transforming economic science on the basis of value added. The focus of change is on the role of consumers, the structure of enterprises and the competitive environment. The intention for value added enhances the innovation activity of companies and their network participation as a competitive advantage.

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