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FAQs - Policy Makers
How Important is the Knowledge Economy?
Trade in intangibles and knowledge based business is growing exponentially. For example, the biotechnology industry is only 20 years old yet has spawned over 5,000 companies. Another example: the value of patent licences is worth more than $100 bn annually to the US economy. Furthermore the value of trade in physical goods and services is enhanced by knowledge. The World Bank report Knowledge for Development cites knowledge as key for future prosperity in developing countries. Policy makers cannot afford to ignore the impact of the Global Knowledge Economy.
What is the Policy Role for the Path to Prosperity through Knowledge?
Policy Makers have four important roles to play:
1) To stimulate entrepreneurial knowledge-based businesses;These apply whether you are in local or national, or transnational government agencies. These topics are discussed in The Public Policy Agenda, Chapter 9 of Knowledge Networking. See also Global Perspectives.
What Policies have the most Impact in Achieving Success?
Generally those that involve partnership between public and private sector in creating the necessary infrastructures for innovation. The Austin area of Texas is a good example of where an economic backwater has been turned into a thriving technopole in little more than a decade.
Who is Doing What around the World?
Initiatives on innovation and the knowledge economy agenda are truly global. We have examples of The Global Momentum of Knowledge Strategy from around the world - Europe e.g. the European Union Innovation Programme, the UK's policy on the Knowledge-Driven Economy; North America - e.g. Canada; Latin America e.g. building knowledge-based business in Brazil; The Far East - China and its technology map. Over 50 countries are already represented on the Global Knowledge Leaders Map with more in the pipeline.
If we have not addressed your specific question in the above sections, please put your question in the FAQ feedback form. We will regularly review and modify these FAQs where necessary, based on the number and type of questions received.
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