The trilogy of knowledge | ArabNews

Sustainable economies are created through shared knowledge and experience. In turn, efficient economic interaction requires more than an invisible hand. To be effective, it needs clear action plans, effective governance arrangements, and sophisticated structural components to adequately service and achieve its aims and objectives.

In order to sustain a knowledge-driven society, our economy should not be heavily dependent on natural resources anymore. Day by day, our intellectual resources will gradually replace the natural resources that our country is heavily dependent on. The term “knowledge-based economy” emerged from the global recognition of the role of knowledge and technology for sustainable economic growth.

It is important to note that the term “knowledge-based economy” is to a considerable extent misleading. When analyzing world economies, knowledge can be a component to discovering and developing a natural resource-based economy, or it could be the main driving force behind a knowledge-based economy. However, what’s so distinctive about the 21st century’s so-called “knowledge-based economy” is that knowledge does not drive the economy, sharing it does. Knowledge is not only an ingredient toward income-generating industries; in KBE, knowledge in itself is an income generator.

More at: http://www.arabnews.com/trilogy-knowledge

See it on Scoop.it, via Knowledge Economy

http://www.scoop.it/t/knowledge-economy/p/2047515440/the-trilogy-of-knowledge-arabnews The trilogy of knowledge | ArabNews