Knowledge-based Economy versus Network Economy

Economics of Knowledge
asif, Teacher, Pakistan, Member
Knowledge based economics for countries works simply the same as for a person with knowledge. The concept is widely used in economic growth. Economic growth takes place when a country is able to increase its capital stock, its Long Run Aggregate Supply (LRAS) shifts outwards.
However if a country is able to improve its technology and productivity of workforce, then the marginal efficiency of capital (MEC) increases, which results in faster rate of economic growth.

Meaning of Knowledge Based Economy
Angel Arbonies, Business Consultant, Spain, Member
KBE refers to the idea that for the economy, knowledge is the most important resource, rather than Land, Location, Natural Resources, Capital or Labor.

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Editor: See also Comparative Advantage

The Role of Information in the Economics of Knowlegde
grace love, Student (MBA), Nigeria, Member
In the economics of knowledge, information plays a vital role in providing the knowledge that will increase the economic output of any nation. For information that produces knowledge will provide new ideas and innovations.

What is Economic Growth?
Kurt Ludikovsky, Consultant, Austria, Member
If I read here about 'economic growth', my question in this relation is: where are we (as mankind) growing to?
Has anyone looked on to the earth? Has this grown over the last decades/centuries? I believe we agree: NO.
So where should growth come from? It's just a more on people, but the resources don't grow.
So hopefully the growth on knowledge (which requires the information can be applied) will lead us into the right direction.