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What is Knowledge Economy

Handbook of Research on Theoretical Perspectives on Indigenous Knowledge Systems in Developing Countries
A system of consumption and production that is based on technology and the knowledge acquired by the workers or intellectual capital.
Published in Chapter:
Indigenous Knowledges and Knowledge Codification in the Knowledge Economy
Edward Shizha (Wilfrid Laurier University, Canada)
DOI: 10.4018/978-1-5225-0833-5.ch012
Abstract
The production, dissemination and archivization of knowledge are important processes in contemporary knowledge economy. Questions on Intellectual Property Rights (IPR) arise when Indigenous Knowledges (IKs) are examined and evaluated on how they benefit the knowledge economy and development. These questions seem to be addressed in terms of dominant epistemological ideologies based on Eurocentric knowledge production philosophies embedded in positivism and how knowledge is codified and patented. The purpose of this chapter is to examine the process and effect of codification and on IKs. The chapter argues that while knowledge codification is necessary for IKs to be preserved and archived, it is important not to lose sight of the communal ownership of the knowledges and to protect them from exploitation and appropriation. The chapter concludes that while codification of IKs and intellectual property rights are controversial, for IKs to play their full role in socioeconomic development they cannot be left out of codification that is pervasive in today's knowledge economy and society.
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Andragogy or Pedagogy as a Means to Improve the Workforce?
“Traditional economic factors such as monetary capital, physical labor, and raw material, are becoming less important in comparison to the capability of adding value through knowledge development, improvement, and innovation” (Drucker, 1993 as cited in Kessels & Poell, 2004, p. 147).
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Back to Basics: Electronic Collaboration in the Education Sector
Refers to how society and economies are changing their reliance from the labour and manufacturing of products or goods to an economy that is more reliant on the production and reengineering of information into knowledge. Hence, society and the economy are being transformed from a “physical-based” labour force to a “knowledge-based” one. The knowledge economy is centeralised on how digital technologies are transforming the way humans work, think, and act.
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Media Literacy, Co-Innovation, and Productivity: Examples from European Countries
New state of the global economy, which in recent decades has been transformed by new Information and Communication Technologies (ICT). It is characterized by massive changes caused by incorporation of knowledge to economic activity.
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Rewriting the Future Through Rhetorical Technology
A futuristic approach to intellectual production that is central to logic knowledge and technology rather than the consumption of goods that is money dependent.
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Linking Education to Creating a Knowledge Society: Qatar's Investment in the Education Sector
An economic mode of production centered on information, skills, know-how, and training and education as opposed to capital or labor.
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Preservation of Indigenous Knowledge through Indigenous Languages in Zimbabwe
An economy where growth is dependent on intellectual capital. Such an economy takes into cognisance the quality, quantity, accessibility and availability of information rather than the means of production.
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The Call for Transformational Governance in the Knowledge Economy
An economy made up of knowledge industries. These are industries that engage in continuous innovation.
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Information Technology Strategy in Knowledge Diffusion Lifecycle
The economy based on the production, assignment, and application of knowledge. Knowledge is the key economic asset that drives long-run economic performance ( Dunning, 2000 ).
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Virtual Organizations in Post-Graduate Education in Egypt
An economy where the continuous innovations in information and communication technology have forged stronger links between individuals, organizations, and nations, contributing to global knowledge dissemination.
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Network Effects of Knowledge Diffusion in Network Economy
Based on the production, the assignment, and the application of knowledge and information.
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Innovative Entrepreneurship in Poland within Cooperation of the Universities with Enterprises
Economy based on practical application of knowledge and information to generate tangible and intangible values.
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Development Trends in Economics of Distance Education from the Perspective of New Technologies
A new approach that emphasizes the economic value of knowledge, drawing attention to the increasing amount of knowledge accumulated thereby indicating the importance of investing in human capital to establish the economy as a social institution for a competitive advantage on a global scale (Melody, 2007).
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Entrepreneurship Innovations and Knowledge Economy: Veterans in Perspective
This is an economic system in which the production of goods and services is predominantly established on knowledge-intensive activities. It also defines the process of consumption and production events that are discharged from the application of peoples' expertise (intellectual capital).
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Being Face to Face: A State of Mind or Technological Design?
Described as the intangible economy, where electronic blips transmitted across worldwide computerised networks are replacing capital(Bell, 1973; Binde, 2005; Fuchs, 2006; Toffler, 1981; Toffler, 1990), it is a dematerialised economy, where materials have been replaced by intellectual resources and services(Block & Hirschhorn, 1979; Carlaw et al., 2006; Castells, 1996; Drucker, 1969; Toffler, 1990), and the workers produce intangible, intellectual rather than manual or material products, (Drucker, 1969; Drucker, 2003; Thorns & Wang, forthcoming).
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Human Capital Management for Sustainable Competitive Advantage in the New Economy
An economy in which the generation and exploitation of knowledge play the predominant part in the creation of wealth.
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Innovative Thinking in Software Development
Economic growth is driven by the accumulation of knowledge, which is the basic form of capital. A knowledge driven economy is one in which the generation and exploitation of knowledge plays the predominant part in the creation of wealth.
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Pedagogy and Agency in Postgraduate Student Supervision in a Rural South African University
An economy in which growth is dependent on the quantity, quality, and accessibility of the information available, rather than the means of production.
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Economic Impact of Digital Media: Growing Nuance, Critique, and Direction for Education Research
A term denoting an economic shift toward knowledge as a chief commodity. A knowledge economy, unlike agriculture- or labor-intensive economies, places emphasis on expertise and other forms of human capital as opposed to material products. As nonrenewable resources dwindle, economic advantage shifts toward knowledge products—innovation and reorganization of existing frameworks.
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Digital Trends in Education Operations and Marketing
Is the sector of the economy which derives profits from the production and sharing of knowledge such as what is found among universities.
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Understanding the Potentials of Social Media in Collaborative Learning
Economic models that based on the growth dependent on the knowledge to generate values.
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International Movement of Highly Skilled Professionals
The highest stage in post-industrial and innovative economy development characterized by a vast information spread and knowledge society development.
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Strengthening the Knowledge-Base of Cities Through ICT Strategies
An economy characterized by the recognition of knowledge as a source of competitiveness, the increasing importance of science, research, technology and innovation in knowledge creation, and the use of computers and Internet to generate, share, and apply knowledge.
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Pedagogizing International Students' Technical Knowledge Consumption
21st-century societies live on knowledge as a staple diet as opposed to traditional economies of the bygone century. Traditional economies were sustainably inviable and depleted the natural resources to the point of national diversification drive; for example, Saudi Arabia Vision 2030 is one but a simple example of Saudi society’s hunger for knowledge.
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A Critical Review of the Current State of Natural Language Processing in Mexico and Chile
It is an emerging economic area, oriented towards the creation of goods and services derived from the exploitation of specialized knowledge, provided by highly qualified workers. Such knowledge is acquired by these workers from their university studies, therefore universities acquire a strategic value as centers capable to generate innovation and disruptive knowledge. In this sense, the knowledge economy is located in a post-industrial stage, since it is oriented towards a services market, where what is exchanged, in addition to industrial and human resources, ideas, designs and useful concepts to improve the productivity.
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Reflective Learning in the Digital Age: Insights from Confucius and Mezirow
The term covers a wide range of interpretations. As used in this paper it refers to a system of production and consumption in which intellectual capabilities rather than physical resources are the basis of the system. It is often characterized by rapid progress alongside rapid rate of obsolescence.
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Entrepreneurship Education for an Entrepreneurial Society
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Supporting Workforce Wisdom in a Global Economy
Uses knowledge-centered business models and practices to create products and services for consumers.
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Social Networks through an Entrepreneurial Mindset
An economy characterized by the recognition of knowledge as a source of competitiveness, the increasing importance of science, research, technology and innovation in knowledge creation, and the use of computers and the Internet to generate, share and apply knowledge.
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Open Educational Resources in E-Learning: Standards and Environment
Economic sector based on the production, transformation or consumption of immaterial goods
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Knowledge-Based Urban Development
An economy that encourages its organizations and people to acquire, create, disseminate and use knowledge—i.e., codified and tacit—more effectively for greater economic and social development and it is also regarded as a separate section of the economy, the one in which new and in most cases technological knowledge is generated.
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Teaching and Learning 21st Century Skills for Life
A world in which expert skills and ideas are needed to enable one to become useful and contribute towards solving organizational problems.
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Transforming and Facilitating Quality Education in Developing Knowledge Economy: The Indian Perspective
The economy where the growth is directly proportional to the availability of the information, access to it, and quality of the information. Such economies rely on creation, assimilation, and dissemination of information to create value and promote innovation and sustained growth.
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