7. Dezember 2003

[ English ]

More on the Knowledge Economy and GDP

Taran Rampersad has been thinking about my hypothesis that "as we progress towards a knowledge-based economy (...) measured tangible GDP decreases" and has written up a long entry in which he challenges it and develops it further.

He writes:

"It's impossible to assign value on an idea, I think. Economic theories of the knowledge age seem to be suffering the same fate of Newtonian Physics in Quantum Physics. All the old equations of measurement need to be tossed out to make room for the new equations which haven't been developed yet."
Read what he says and add your own thoughts!
Trackbacks sind Links von anderen Weblogs auf diesen Eintrag.

I was considering value today over a Carib [beer] with a friend - and I didn't mention the article Das E-Business Weblog: More on the Knowledge Economy and GDP directly, but we skimmed around it. Mike and I sat there...

KnowProSE: More on: Knowledge Economy and Intangible Exchange Metrics (09.12.03 04:34)


I just thought of an example. When Thomas Edison thought of the phonograph, it was an intangible and of intangible value. He made it tangible, and yet the value of it remained intangible. He even said that it 'is a toy, of no commercial value'. So he had assigned a low intangible value (unrealized) to a tangible item.

For those who don't know, the phonograph made the Recording Industry what it is today.

Had he not created the phonograph, had he simply discarded the thought - that thought still held intangible potential.

Taran Rampersad am 08.12.03 19:50 #