The Third Industrial Revolution

The Power of the “Third Industrial Revolution”

The confluence of “centralized electricity, the oil era, the automobile and suburban construction” during the 20th century contributed to a “Second Industrial Revolution” that generated unprecedented levels of growth and wealth in much of the world. But the contemporary industrial economy is facing several crises: Oil is running out, the climate is changing and debt has reached serious levels. The easy availability of fossil fuels that defined the “Carbon Era” is coming to an end, pointing to future social, political and financial upheavals.

Throughout history, economic progress has relied on the “organic relationship” between energy resources and communications. For instance, steam-engine technology drove better and faster printing presses, which boosted literacy and created a skilled workforce to power the First Industrial Revolution. Similarly, fossil fuels made motor transportation possible in the 20th century, extending people’s reach and productivity. So far, the “information and communication technology revolution” that began in the 1990s has not reached its full potential because of its dependence on a dying energy...