Dr. Arup Barman (Professor), Assam University, Silchar-788011 (India)
Paradigms of Wisdom Economy for Manufacturing in PostPandemic World
Authors
Abstract
We are now at the beginning of the fourth industrial revolution. We could see the impacts of
third industrial revolution started in 1950, which gradually boosted up to the information and
research based knowledge economy. We know, the knowledge economy was steered by
research-driven companies that followed the science to make innovations and gain productivity
from R&D (Švarc, J., & Dabić, M. 2015). We could observe how manufacturing under the
knowledge economy attempted eaten up the earth. The bust of COVID-19 as the pandemic had
changed social, technical, managerial, geopolitical aspects of earth finally impacted on the
industrial manufacturing to serach the new principles and guidance.
The pandemic econonmy of the world force the human being to search alternatives, consequently
realizing to say “now is the right time to say by-by knowledge economy”. We must explore the
wisdom economy and its implications on the world of manufacturing. Wisdom economy as the
emerging economy based on the conscious and collective notions of human being, the truism of
it has obvious possibilities of changing established paradigms of the knowledge economy.
In this piece of writing the author highlighted the foundation, history and evolution of
manufacturing management approaches. Focused on the present situation, realizing the need for
intervention through the principles of wisdom economy in manufacturing management. Thus, the
author churns out the wisdom economy paradigms to guide the manufacturing of the post
pandemic economy.