An introduction to the field of abundant economic thought

Abstract

The problems facing the 21st century world, and the new technologies that have emerged to meet them, are harbingers of a new industrial revolution–Industry 4.0 (I4.0). The resulting information-based economy is challenging traditional economic thought, as evidenced by the appearance of “Abundance” as an economic philosophy. Abundant economic thought is relatively undeveloped. Here, authors help define the field of Abundance based on the possibilities of the new information-based economy and the technological harbingers of I 4.0. Ten basic tenants of Technological Innovation Management (TIM) are presented as a basis for abundant economic thought. It is further shown that the Abundance perspective can elevate the Bottom Billion and nurture a sustainable and vibrant and growing middle class. Finally, we show one industry group that is operationalizing abundant economics.