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"Revolutionary account of the transformative potential of the knowledge economy Adam Smith and Karl Marx recognized that the best way to understand the economy is to study the most advanced practice of production. Today that practice is no longer conventional manufacturing: it is the radically innovative vanguard known as the knowledge economy. In every part of the production system it remains a fringe excluding the vast majority of workers and businesses. This book explores the hidden nature of the knowledge economy and its possible futures. The confinement of the knowledge economy to these insular vanguards has become a driver of economic stagnation and inequality throughout the world. Traditional mass production has stopped working as a shortcut to economic growth. But the alternative--a deepened and socially inclusive form of the knowledge economy--continues to lie beyond reach in even the richest countries. The shape of contemporary politics on both the left and the right reflects a failure to come to terms with this dilemma and to overcome it. Unger explains the knowledge economy in the truncated and confined form that it has today and proposes the way to a knowledge economy for the many: changes not just in economic institutions but also in education, culture, and politics. Just as Smith and Marx did in their time, he uses an understanding of the most advanced practice of production to rethink both economics and the economy as a whole"--

We define the knowledge economy as production and services based on knowledge-intensive activities that contribute to an accelerated pace of technical and scientific advance, as well as rapid obsolescence. The key component of a knowledge economy is a greater reliance on intellectual capabilities than on physical inputs or natural resources. We provide evidence drawn from patent data to document an upsurge in knowledge production and show that this expansion is driven by the emergence of new industries. We then review the contentious literature that assesses whether recent technological advances have raised productivity. We examine the debate over whether new forms of work that embody technological change have generated more worker autonomy or greater managerial control. Finally, we assess the distributional consequences of a knowledge-based economy with respect to growing inequality in wages and high-quality jobs.

Main description: Der vorliegende Band der Studien zur Entwicklung der ökonomischen Theorie vereinigt die überarbeiteten Referate der 27. Jahrestagung des Dogmenhistorischen Ausschusses, die an der Universität Graz stattfand. Das Leitthema lautete Wissen / The Knowledge Economy. Mit dem Aufkommen der modernen Informations- und Kommunikationstechnologien in den 1990er Jahren hat sich die Bedeutung von Wissen als entscheidende Antriebskraft des Produktivitäts- und Wirtschaftswachstums stark erhöht. Informationen und Wissen stellen in modernen Volkswirtschaften ebenso den zentralen Produktionsfaktor dar, wie es für Grund und Boden in der Agrarwirtschaft bzw. physisches Kapital in der Industriegesellschaft zutraf. -- In den acht Beiträgen wird die Bedeutung des gesellschaftlichen Wissens als Quelle für Wohlstand und Wirtschaftswachstum analysiert. Dabei werden die Studien früherer Ökonomen zur Bedeutung von Humankapital und Wissen von Adam Smith über Schumpeter und Hayek ebenso behandelt wie die Beiträge moderner Wachstumsökonomen wie Arrow, Romer und Lucas.

PurposeThe purpose of this paper is to provide insights into the expanding role of trust in the knowledge economy. Specifically it aims to focus on the unique nature of the knowledge economy and the importance of informal and social control provided by the development of trust.Design/methodology/approachThe paper is conceptual and a literature review.FindingsThe intra‐ and inter‐organizational dynamics of the knowledge economy require a unique focus on the development and maintenance of trust. Marketing relationships within and across firms will change and require a renewed emphasis on trust to safeguard the key asset in the knowledge economy, knowledge.Originality/valueThis article adds new insights on organizational trust, specifically under the paradigm of knowledge‐based production systems that characterize a knowledge economy.

This text investigates the rise of entrepreneurship and knowledge management, analyses the effect that the knowledge economy will have on labour, business strategy and corporate restructuring and highlights the challenges that India will face, such as offering employment for one billion people

In today's de-layered, knowledge-intensive organizations, most work of importance is heavily reliant on informal networks of employees within organizations. However, most organizations do not know how to effectively analyze this informal structure in ways that can have a positive impact on organizational performance. Networks in the Knowledge Economy is a collection of readings on the application of social network analysis to managerial concerns. Social network analysis (SNA), a set of analytic tools that can be used to map networks of relationships, allows one to conduct very powerful assessm