Description
This book is a comprehensive assessment of the economic effects of the emerging information and communication technologies associated with a knowledge-based economy. It looks at how knowledge is increasingly treated as a product in its own right, and develops a framework to comprehend these fundamental shifts.
The emergence in recent years of a knowledge-based economy, and the seismic, structural changes it has wrought in the advanced economies, have been the subject of intense debate in economics. This volume presents a comprehensive assessment of the economic effects of the emerging information and communication technologies associated with a knowledge-based economy, and looks at how knowledge is increasingly treated as a product in its own right. A framework is developed to comprehend these fundamental shifts, based on three bodies of knowledge: the economics of path dependence and of historical time as they are elaborated in the economics of new technologies; economic topology based on the methodology of network analysis; and the new economics of knowledge and the concept of localized technological change. The text provides an analytical framework for the study of the transition of advanced economic systems towards a knowledge-based economy. Review: the book is very stimulating in its attempt of combining the Schumpeterian approach to innovation, structural change and growth, with the Marshallian partial-equilibrium analytical framework. It represents a rare (and much needed) attempt of treating with analytical rigour and theoretical depth the multidimensional nature of technological change and its micro-macro economic domains, with an effort of developing theory in order to interpret the real world. --Rinaldo Evangelista Technovation
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