Knowledge in the Development of Economies

Knowledge in the Development of Economies

Institutional Choices Under Globalisation

New Perspectives on the Modern Corporation series

Edited by Silvia Sacchetti and Roger Sugden

This innovative book offers a critical perspective on the state of the current global economy, making sense of knowledge-related issues by critically assessing existing institutional choices, as well as pointing to new ways forward.

Chapter 10: Economic Development Lite: Communication, Art and ICTs in a Globalised Economy

Roger Sugden, Robbin Te Velde and James R. Wilson

Subjects: economics and finance, economics of innovation, institutional economics, regional economics, innovation and technology, economics of innovation, urban and regional studies, regional economics


Roger Sugden, Robbin Te Velde and James R. Wilson 1. INTRODUCTION In a world characterised by ‘globalisation’, communication processes are a crucial determinant of the potential for economic development, as well as of the realisation of that potential. This is seen most straightforwardly in the influence of new technologies. Although globalisation is a highly contentious concept, partly due to its being a multifaceted phenomenon that makes it difficult to analyse within one discipline, it clearly relates to the emergence of relationships that transcend previous boundaries (Massey, 1991; Radice, 2000; Scholte, 2000; Waters, 2001). In turn, the importance of transcending boundaries is associated with advances in information and communication technologies (ICTs), which have markedly eased previous difficulties inherent in interaction over large distances. The evolution of email and the Internet, for example, herald the cheap and almost instantaneous transfer of vast amounts of information across the entire accessed world. This creates the potential, increasingly being realised, for a new ‘layer’ of market and non-market activities that are detached from physical localities. However, ICTs are not the only way in which communication processes impact on economic development, and in this chapter our focus also includes analysis of art in Britain in the 1990s, alongside evidence about the influence of large transnational corporations in schools and colleges, and in the film, television and magazine sectors. The particular aim of the chapter is to identify specific issues around communication that are at the heart of understanding the prospects for economic development. Part of its...

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