Knowledge Creation, Diffusion, and Use in Innovation Networks and Knowledge Clusters: A Comparative Systems Approach across the United States, Europe, and Asia

By Elias G. Carayannis; David F. J. Campbell | Go to book overview

INTRODUCTION AND CHAPTER SUMMARIES
ELIAS G. CARAYANNIS
DAVID F.J. CAMPBELLThere is ample and growing evidence that intangible resources such as knowledge, know-how, and social capital will prove to be the coal, oil, and diamonds of the twenty-first century for developed, developing, and emerging economies alike1. Moreover, there are strong indications and emerging trends that show qualitative and quantitative differences between the twentieth- and the twenty-first-century drivers of economic growth:2

The world economy is in the midst of a profound transformation, spuned by
globalization and supported by the rapid development of ICT (information and
communication technologies) that accelerates the transmission and use of information
and knowledge. This powerful combination of forces is changing the way we live and
redefining the way companies do business in every economic sector.

We are currently going through a dynamic era for the economies of the world where a country can transition fast either upward (see the case of Ireland) or downward (see the case of Japan), and this trend has become increasingly pronounced and accelerated since the mid-1990s. This new era is punctuated by:3
Development of a service-based economy, with activities demanding intellectual content becoming more pervasive and decisive.
Increased emphasis on higher education and lifelong learning to make effective use of the rapidly expanding knowledge base.
Massive investments in research and development, training, education, software, branding, marketing, logistics and similar services.

-ix-

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