This instalment of the Sound of Economics features Bruegel fellows Reinhilde Veugelers, Simone Tagliapietra and J. Scott Marcus explain how European industries are adapting to new manufacturing, and what more can be done to help EU countries and companies keep pace with the burgeoning 'Industry 4.0'
Manufacturing in its 21st century guise is markedly different from its traditional portrayal. Innovations are not only improving the efficiency of production processes but are also allowing for the establishment of more complex supply chains, with smarter communications systems and big-data management systems driven by an increasing digitalisation.
Companies in a variety of sectors in Europe are having to adapt quickly to keep pace with the change. In this episode of the Sound of Economics, Simone Tagliapietra discusses how the established energy companies are ensuring they stay relevant in this new age; J. Scott Marcus elaborates on the opportunities thus far missed in Europe to make e-commerce work better for everyone; and Reinhilde Veugelers looks at what Europe needs to do to maintain a global presence as new manufacturing takes hold, and what lessons might be learnt from elsewhere.
Each of these three scholars has contributed significant research to the Bruegel Blueprint publication ‘Remaking Europe: the new manufacturing as an engine for growth’, which explores the topic of new manufacturing in Europe across many sectors.
J. Scott Marcus, Senior Fellow, Bruegel
Simone Tagliapietra, Research Fellow, Brugel
Reinhilde Veugelers, Senior Fellow, Bruegel