Redefining the Task of Regional Development in the Fourth Industrial Revolution: some Australian Perspectives

Abstract

We inhabit a world of increasingly rapid technological change, massive uncertainty and unimaginable complexity potentially affecting every dimension of economy, society, demography, polity and even environment. Having explored these circumstances, this chapter focuses conceptually upon the task confronting nations and regions as they go about the difficult task of adapting creatively and efficiently to a mass of impending opportunities, while supporting compassionately those regions and communities harmed in the change process. Society’s lack of control over evWe inhabit a world of increasingly rapid technological change, massive uncertainty and unimaginable complexity potentially affecting every dimension of economy, society, demography, polity and even environment. Having explored these circumstances, this chapter focuses conceptually upon the task confronting nations and regions as they go about the difficult task of adapting creatively and efficiently to a mass of impending opportunities, while supporting compassionately those regions and communities harmed in the change process. Society's lack of control over events, coupled with rising contests between winners and losers, and profound and often intergenerational differences in people's adaptive capacity will likely threaten effective responses to such challenging circumstances. In the process, our approaches to regional development strategy will likely change dramatically. By way of example, we examine the evolving approaches to regional development currently taking place in both Australia and the author's home region.ents, coupled with rising contests between winners and losers, and profound and often intergenerational differences in people’s adaptive capacity will likely threaten effective responses to such challenging circumstances. In the process, our approaches to regional development strategy will likely change dramatically. By way of example, we examine the evolving approaches to regional development currently taking place in both Australia and the author’s home region.