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The Knowledge Economy

the knowledge economy
by

Pooja Keswani

on 16 February 2011

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Transcript of The Knowledge Economy

Pre Industrial / Agrarian Society Life is a "game against nature" where "one works with raw muscle over" Life is a "game against fabricated nature" as the machine predominates Life is a "game between persons" – “what counts is not raw muscle power, or energy, but information.” Post - Industrial Society = Information Age Consisted of knowledge workers
“any of us could join their ranks” We live in a knowledge economy in the Conceptual Age. An era in which mastery of abilities we’ve often overlooked and undervalued marks the fault line between who gets ahead and who falls behind
Left brain vs right brain The economy is not of scarcity, but rather of abundance The effect of location
is diminished The economy can dictate higher price values The ability to penetrate across all barries The knowledge economy has flourished, driven by the revolution of communications that has released information in a very effective and efficient manner. The rise of the knowledge economy is changing many of our assumptions and it is rapidly transforming the world’s businesses. This new economy is driven primarily by technological advance and rising domestic prosperity increasing the demand for knowledge-based services. The combined forces of the information technology revolution and the increasing pace of technological change are driving the rise in knowledge intensity. is defined by Merriam-Webster as the ‘development of an increasinglyintegrated global economy marked especially by free trade, free flow of capital and tapping ofcheaper foreign labor markets.’ is the dependence of efficient production to the availability and use of information. is the ability of information technology to bring the world's economies closer WHO WANTS TO EARN HUGE AMOUNT OF DOLLARS EVERY MONTH?
STRONGER SPENDING POWER
BOOST THE ECONOMY
EFFECTS OF THE KNOWLEDGE ECONOMY IN DIFFERENT COUNTRIES DIFFER CONTINOUS INVESTMENT ON RESEARCH AND DEVELOPMENT FOR NINTENDO WII TO CREATE MARKET AND BOOST ECONOMY YOU TUBE VIDEO ABOUT VIRTUAL GIRLFRIEND AND ITS EFFECT ON JAPAN ECONOMY ONE OF THE LEADING OUTSOURCING AND CALL CENTER COMPANIES IN THE PHILIPPINES ESCALATION OF KNOWLEDGE WORKFORCE FOR THE PAST TEN YEARS IN AMERICA KNOWLEDGE WORKER IN A CAR PLANT *ATAMI, JAPAN TOURISM-BY 2015, TRAVEL SPENDING AROUND THE GLOBE WOULD REACH US$ 4.6 TRILLION
NON-TRAVEL SPENDING-US$963 BILLION BPO INDUSTRY IN THE PHILIPPINES IN 2006, 8MILLION OFWs AND SENT HOME 12 TO 14 BILLION DOLLARS IN A YEAR TO BOOST OUR ECONOMY KNOWLEDGE IS POWER.
POWER MEANS MONEY Online market places: Ebay, Amazon
Online extensions of major store RFID TECHNOLOGY Radio Frequency Identification
a system that transmits the identity (in the form of a unique serial number) of an object or person wirelessly, using radio waves
Was mainly used for tracking large items, now used to make supply chain systems more efficient RFID TECHNOLOGY
HAS TRANSFORMED GROCERY SHOPPING But is it all good? How far is too far? Summary & Conclusion Knowledge economy is fueled by three factors:
Knowledge Intensity
Globalization
Network and Connectivity It’s different from traditional economy because:
Economy is not of scarcity but of abundance
The effect of location is diminished
The economy can dictate higher price values.
The ability to penetrate across all barriers. We are currently in a Knowledge economy in the Conceptual Age
Theoretical, analytical, mathematic skills are no longer enough. We need to apply, innovation, inventiveness, empathy, meaning, create new ideas.
Knowledge economy is a combination of powerful technology and educated minds to create wealth.
Therefore, we need both left and right brain skills in order to create wealth, be productive, make a good living. What's Next? Are we entering into a new age?
Full transcript