Methodology of Criterial Evaluation of Consequences of the Industrial Revolution of the 21st Century

The purpose of this chapter is to develop the methodology of criterial evaluation of consequences of the Industrial Revolution of the 21st century. At that, the authors use the traditional methodology of evaluating the effectiveness of socio-economic phenomena and processes, modifying it with application of general scientific methods of research: induction, deduction, analysis, synthesis, and formalization, As a result, the authors offer criteria for determining evaluation of consequences of the Industrial Revolution of the 21st century and methodological recommendations for their practical application. Due to systematization and classification of these criteria, the authors’ formula has been developed for evaluating the effectiveness of the Industrial Revolution of the 21st century in the sphere of Industry 4.0. The advantages of the offered methodology of criterial evaluation of consequences of the Industrial Revolution of the 21st century is consideration of not only main and target indicators of formation and development of Industry 4.0 in modern economic systems but also additional indicators. The offered recommendations for bringing the indicators to general measuring units with the help of special coefficients allow conducting complete and complex evaluation of consequences of the Fourth Industrial Revolution. The advantage of the offered methodology is high level of its detalization. The explained logic of treatment of the results of criterial evaluation of consequences of the Industrial Revolution of the 21st century with the help of this methodology envisages not only traditional accounting of the value of resulting indicator—coefficient of effectiveness of the Industrial Revolution of the 21st century in the sphere of Industry 4.0 but also considering other estimate criteria. Their model combinations allow determining the implemented scenarios of formation and development of Industry 4.0 in the conditions of knowledge economy’s formation.