The Knowledge Economy by sdfwerte

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									The Knowledge Economy



     By Nick and Mike
                 Definition

   The phrase was popularised if not
    invented by Peter Drucker in his book „The
    Age of Discontinuity‟
   Meaning the use of knowledge to produce
    economic benefits
   Especially in terms of high-technology
    businesses such as computer software,
    telecommunications and virtual services,
    as well as educational and research
    institutions
       So why’s it so important?
   The effect of location is diminished-Globalization
   A business product, as educational and
    innovative intellectual products and services can
    be exported for a high value return.
   As a result, goods and services can be developed,
    bought, sold, and in many cases even delivered
    over electronic networks.
   The economics is not of scarcity, but rather of
    abundance. Unlike most resources that deplete
    when used, information and knowledge can be
    shared, and actually grow through application.
                       Quote
   As the Scottish Executive admit: “Core skills are
    highly valued when people are starting their
    careers, but the instillation of these into
    individuals happens at school, not thereafter: the
    most successful part of the education and
    training process is in the school.”

   MIKES INTERPRETATION OF QUOTE

    ‘This means that the government should stop
    putting so mush money into adult training and
    more into schools so that when the children start
    work they do not need as mush training‟
       So what’s wrong with it?
   Although the knowledge economy allows instant
    access to information this may not always be a
    positive thing as it allows people to access
    information such as essays which they can then
    pass of as their own work.

   Because the concept of knowledge is broad,
    measuring knowledge, together with its
    acquisition, adaptation and use, presents
    significant challenges- WBO measures countries
    to identify the challenges and opportunities they
    face in making the transition to the knowledge-
    based economy.
           In the School
 Allows instant access to various
  forms of information.
 Difficulties in security.

 Allows people in remote areas to

  interact in the classroom.
 Training for the workplace in a ever
  changing marketplace

								
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