MODERNIZATION AS KEY DEVELOPMENT TOOL AND SAFEGUARD AGAINST RISKS ASSOCIATED WITH RAPID INNOVATIVE PROGRESS

• Main Author: Pepa Taras
• Format: Article
• Language: English
• Published: Cahul State University ”B.P.Hasdeu” 2018-12-01
• Series: Scientific Journal of Cahul "Bogdan Petriceicu Hasdeu" State University: Economic & Engineering Studies
• Subjects: modernization; modernizational potential; transformations; technological advancement; economic factors; social-economic system; infrastructure; social-economic system; infrastructure
• Online Access: http://jees.usch.md/wp-content/uploads/2019/03/4q.pdf

The article reviews modernization at an angle of the need to ensure that any technological advancement in the economic sphere should be focused on as well as guarantee beneficial effects for the population as the key fundamental priority of the revolutionary technological transformations taking place at present. The effect of widespread robotization coupled with extensive efforts to advance artificial intelligence may inevitably lead to replacement of human labour which phenomenon should be "cushioned" by effective modernizational policies and efforts through efficient integration and adaptation of innovative technologies primarily for the benefit of the improved well-being of the people. Modernization is explained from various aspects of economic development; its components, factors and evaluation of its progress are substantiated along with analysis of various processes taking place under the transformational-modernizational activities in the economic system. Also, modernizational potential is reviewed and detailed as a basis and foundation for successful modernizational activities' implementation.