Across the first three industrial revolutions, increasing equality of opportunity brought about by each subsequent industrial revolution’s reconfiguration of economic forces has been a major driver of social mobility, leading to more inclusive and dynamic economies and societies over the long term.
For more people to thrive in the Fourth Industrial Revolution and navigate the transition towards a more inclusive economy, the present state of social mobility is not economically or socially desirable, nor sustainable
The economic dynamics of digital platforms, big data and automation are increasingly promoting market concentration and ‘winner-takes-all’ markets.
The main beneficiaries of these changes have been owners of technology or intellectual or physical capital—innovators, investors and shareholders—which has contributed to the rising wealth and income gap between those who depend on their labour and those who own capital.8