A New Vision of the Knowledge Economy

Abstract

To date, more than half of the output in the major OECD countries has been knowledge based. This paper argues, however, that the current growthoriented exposition of the knowledge economy rooted in the conventional concept of free competition is insufficient for promoting the long-term development of human societies. Although we now live in a knowledge economy, most countries have been concurrently characterized by serious phenomena such as environmental degradation and growing economic inequality. The prospect of meeting global commitments, for instance, to reducing inequality, as outlined in the 1995 World Summit for Social Development in Copenhagen and endorsed in the United Nations Millennium Declaration, is bleak and the global society as a whole has become less and less sustainable. Indeed, the world is better seen as composed of numerous (but finite) knowledge economies. To take up the challenge of sustainable development of human societies, we have to develop a pluralistic perspective of the knowledge economy and fully acknowledge the characteristics of each unique knowledge system (such as indigenous knowledge possessed by a small tribe). Once we can help each individual knowledge system develop into a specific set of economic institutions that freely exchange concepts and beliefs with each other in a global environment, we will be able to develop a global economy that embodies a value-committed basis that assures a sustainable path of development on earth.

The Role of Librarians in a Knowledge Society: Valuing Our Intellectual Capital Assets

“…There is a rich treatment of this topic in the economics literature (Asia Pacific, 2000; Atkinson & Andes, 2010; Barkley, Henry, & Li, 2004;Boydel, Hoggett, Rugkåsa, & Cummins, 2008;Carter, 1996;Chen & Dahlman, 2005;Dahlman & Chen, 2002;Daugeliene, 2004;Dutta & Mia, 2011;Gregory & Stuart, 2004;Hicks, Dattero, & Galup, 2006;Houghton & Sheehan, 2000;Leydesdorff, 2006;Lin, 2007;Lundvall & Johnson, 1994;Malhotra, 2003;Minton & Glasheen, 2010;Organisation for Economic Co-operative Development, 2002;Schwab, 2010;Smith, 2002;United Nations Economic Commission for Europe, 2002). Science cities and "technopolies" reinforce the image of an advanced industrial society.…”

Measuring health science research and development in Africa: mapping the available data

“…Overall, quality education and strong institutions are held to be imperative for the transformation into a knowledge economy [55][56][57]. Both educational and economic institutions may create enabling structures for developing knowledge and innovation and for economic growth, but their influence varies according to institutional arrangements, income and development levels in countries [57][58][59]. In particular, education plays a vital role in strengthening human capital, which directly influences the ability to create, absorb, transform, disseminate and use knowledge and innovation [55,[60][61][62].…”

Measuring Health Sciences Research Capacity in Africa: Mapping The Available Data

“…(59)(60)(61) Both educational and economic institutions may create enabling structures for developing knowledge and innovation and for economic growth, but their in uence varies according to institutional arrangements, income, and development levels in countries. (61)(62)(63) In particular, education plays a vital role in strengthening human capital, which directly in uences the ability to create, absorb, transform, disseminate, and use of knowledge and innovation. (59,(64)(65)(66) Education and training emphasizing the value of traditional knowledge and culture also strengthens human capital to innovate contextually relevant solutions for local development problems.…”

“…(59,(64)(65)(66) Education and training emphasizing the value of traditional knowledge and culture also strengthens human capital to innovate contextually relevant solutions for local development problems. (58,63,67)…”