Elgar original reference
Edited by David Rooney, Greg Hearn and Tim Kastelle
Chapter 1: Knowledge is People Doing Things, Knowledge Economies are People Doing Things with Better Outcomes for More People
David Rooney, Greg Hearn and Tim Kastelle Activities directed at harnessing knowledge for economic and social development have grown since the original edition of the Handbook on the Knowledge Economy (Rooney et al., 2005) was published. Politicians, the world’s news media and key people in the Blogosphere now use the terms knowledge economy and knowledge-based economy as part of their normal chatter. More governments are now investing greater amounts of money and time in creating policies to address their knowledge economy goals. The World Bank, the European Union, national governments across the Middle East, Africa, Asia (South Korea, China and India in particular), Australia and the Pacific, Europe and many provincial and local governments are now engaged in knowledge economy policy development. If knowledge economies are about better outcomes for more people, this growth of activity is welcome. Much of what people say in the name of knowledge economies, though, remains short on reality and long on hyperbole and because of this it is questionable if widespread benefits will result. Happily, much of the hyperbole about knowledge and knowledge economies that surrounded debates five years ago is now counterbalanced by useful critiques, research and learning from experience. Getting to grips with what knowledge is and how it can work better for communities, businesses and individuals is important, but knowledge is not going to give communities, businesses or individuals a magic carpet ride to riches and joy. Any rewards from knowledge policy will result from informed and careful policy analysis and...
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