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Tamar Dolidze
INDUSTRIALIZATION AS A MECHANISM FOR THE DEVELOPMENT OF THE REAL SECTOR OF THE ECONOMY

Summary 

The continuous process of industrialization primarily concerns the real sector of the economy. The real sector of the economy is a complex mechanism that creates a dynamic system of the economy.

Industrialization is a continuous process involving industrial revolutions. The process of industrialization began in England during the Industrial Revolution.

In economic science, industrialized countries of the first wave (Great Britain, USA) and the so-called countries of late industrialization (Germany, Japan) are known. The origin and development of industrialization is associated with the economic systems of the developed countries of the world. The process of industrialization is an expensive, budget-intensive, knowledge-intensive technological continuous process.

Among the branches of the real sector of the economy, the branches of industry are most associated with the industrialization. Modern industry is the driving force of the digital industry, as in most industries, where more value added can be created and profits maximized. In accordance with modern requirements, the connection of industry with research institutes and feedback create a continuous process of industrialization and ultimately create a sustainable development of the economy.

The process of modern industrialization is mainly based on the development of modern fields of science and technology. Highly cumulative innovative technologies are being created.

The highly developed countries of the modern world are characterized by an exponential growth in the number of inventions and their complexity.

As a result of the continuous development of knowledge-intensive industrialization, the real sector of the economy is developing. It should be noted that the principle of integration and the return mechanism work effectively, which largely leads to sustainable development of the economy.

Keywords: Industrialization, reindustrialization, industrial revolutions, post-industrial society, digital economy.