What is a Knowledge Economy?

The knowledge economy is an economy based on knowledge and mental labor as the main body, a concept corresponding to agricultural economy and industrial economy. Industrialization, informationization and knowledgeization are the three stages of modernization development. Education and research and development are the main sectors of the knowledge economy, and high-quality human resources are important resources.

Knowledge economy

(Economic theory concept)

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The knowledge economy was not a strict one

Nasbitt published in 1982

1. From the scope of research: macroeconomics,

Because economic thought and doctrine are affected by social, historical, class, and other factors, the research objects of economics will inevitably change with the change of historical times. In the history of western economics, its research objects are summarized mainly in the following eight categories.

1 Fortune says.

Wealth theory is the earliest, the longest history, the most economic object theory. ^ A Economic thinking of ancient Greek and Roman scholars. Most economists before neoclassical economics had this kind of object theory. Ancient Greek and Roman thinker Xenophon's work "Economics", throughout the study of family wealth and its growth. Mercantilists are more passionate about their wealth than their predecessors. They centered on wealth, studying the forms of wealth (gold and silver), production (circulation field), and growth paths (mining gold and foreign trade).

Classical economists' research object is mostly wealth theory. In his works, William Petty, a British classical economist, focused on how to increase national taxes and increase national wealth. In his (tax theory), he proposed that "land is the mother of wealth and labor is the wealth. "Father". Adam Smith, the master of classical economics, in "The Wealth of Nations", studied the nature and causes of national wealth and the way of wealth growth. David Ricardo followed Smith's theory of object of wealth, but paid special attention to the distribution of wealth. He took the distribution of wealth as the research object of political economy.

French economist Say also pointed out in his book "Introduction to Political Economics" published in 1803 that political economics is a science that "explains how wealth is produced, distributed, and consumed." Based on this, he divided political economy into three major parts: production, distribution, and consumption, and established the dichotomy. In his <Outline of Political Economics>, James Mueller inherited and played Say's trichotomy, and proposed the quaternary object theory, that is, the object of economics research is reduced to the study of wealth production, distribution, General principles of exchange and consumption.

2. History or institution.

In the nineteenth century, the German historical school, as the main opponent of classical economics, always put history in an extremely important position in economic research, and insisted on establishing nationwide studies with the nation-state as the center. At the beginning of the nineteenth century, Adam Muller believed that political economics had two purposes: to seek great satisfaction of personal interests and to strengthen the entire family of nations, and the latter was the main one. Liszt, a pioneer of the German historical school, proposed that national economics and cosmopolitan economics are in opposition. He believes that national economics is economics that represents the interests of economically backward countries, and its research object is the way of wealth and strength of backward countries. Cosmopolitan economics is economics that represents the interests of advanced countries in the economy. Its research object is the world economy. Luo Xueer, the founder of the historical school, pointed out that national economics or political economics is a science that deals with the laws of a country's economic development, and economics should be closely related to and based on disciplines such as law, country, and religion. Hildebrand claims that economics should produce an economic history of cultural history and is closely related to other branches of history and statistics. The representative of the New History School, Schmuller, further distinguished between national economics and national economics. He believed that the object of national economics research was national economy, and the object of national economics research was the state's organizational structure and its economic functions. The American institutional school regards the system as the driving force for socio-economic development and changes, and regards institutional research as its fundamental characteristic. American institutional scholar Veblen believes that economics should study the origin and evolution of institutions to the corresponding socio-economic relationships. Commons directly named his work (institutional economics), thinking that institutional economics is a theory about the role of collective action (customs, families, companies, countries, etc.) in controlling individual actions.

3. Human desire and contentment.

Both Sismondi and Rochelle have mentioned that economics studies "people." But the concept of people they are talking about is vague.

In the (economic harmony), the pioneer of subjective economics clearly stated that "the object of political economy is people" and explained that "desire, effort, and satisfaction are the people in the economic perspective." Menger in Austria clearly specified the research object of political economy as human desire and satisfaction. He divided economics into applied economics, historical statistical economics, and theoretical economics. He pointed out in (Principle of National Economics) that theoretical economics studies the conditions for humans to carry out their pre-funding activities in order to meet their desires. Pang Both Barwick and Wessel still regard human desire and satisfaction as the object of political economics research. Jevons also pointed out that economics is a calculus of happiness and pain.

4. Comprehensive theory of people and wealth.

Marshall, a well-known British economist, has criticized the notion that economics is a science of wealth, and it is difficult to justify the definition of a researcher. In the book "Principles of Economics", it is pointed out that economics is, on the one hand, a science that studies wealth, on the other hand, it is also a more important aspect, and it is a part of the discipline that studies people.

5. Human choice behavior theory.

In 1932, Robbins summarized the common essence of many economists about the concept of economics. In <On the Nature and Significance of Economic Science>, he proposed a classic definition of economics: "Economics is a research purpose and has Alternative uses of scarce means of relationship between human behavioral science. " This shows that the emergence of economics lies in the contradiction between human endless desire and scarcity of goods. In Hicks' "Value and Capital", it is also clearer that political economy is a science that studies human behavioral choices. The famous American contemporary economist Paul Samuelson also wrote in his "Economics" that economics is the science that studies how people and society make the final choice.

6. Macroeconomic behavior theory.

Macroeconomic behavior theory is represented by the famous British economist Keynes. The economics before the Keynesian revolution mostly analyzed microeconomic behavior. For example, studying the economic behavior of individual consumer products, individual markets or individual companies, and individual industries is mostly the content of microeconomics. On the research object of economics, Keynes shifted from the analysis of micro-economic behavior to the analysis of macro-economic behavior. Keynes emphasized the research on the total amount of national income, total employment, total demand, and total supply. The emphasis was on "the entire economic system. Make all resources in the system reach the most suitable employment. " The publication of Keynes (General Theory of Employment, Interest, and Money) in 1936 marked the emergence of macroeconomics.

7. Confluence theory of micro-economic behavior and macro-research.

In order to make up for Keynesian economics focusing only on macroeconomic analysis and ignoring the shortcomings of microeconomic analysis, some contemporary economists have combined Keynesian macroeconomic theory with neoclassical microeconomic theory. They start with the law of scarcity. Economics is divided into two parts: microeconomics and macroeconomics. Microeconomics studies resource allocation as resources are scarce. To allocate scarce resources; macroeconomics takes resource utilization as the research object, because there will be unreasonable use of resources in the allocation of resources, problems of idle or wasted resources, and rational use of scarce resources require state intervention. And resource allocation and utilization can have different solutions and methods, which involves economic system issues. Many contemporary economists advocate the establishment of a mixed economic system. In this system, there are both a free market economy where market mechanisms play a role, and an economy where the state intervenes and macro-controls economic life. To sum up, the definition of economics should be the study of the science of the allocation and utilization of scarce resources in a certain economic system. The definition involves four issues: first, scarce resources, which is the basis for economics and the starting point of research; It is resource allocation and belongs to the research object of microeconomics; the third is resource utilization and belongs to the research object of macroeconomics; the fourth is economic system, because both microeconomics and macroeconomics involve economic system issues.

8. Broad object theory.

There are two views of generalized object theory: (1) Horizontal analysis method. This view holds that economics is a science that studies economic theory, economic issues, and economic policy. It defines the research objects of economics as three aspects: economic theory, economic problems, and economic policy. (2) Vertical and horizontal analysis method. This view holds that the research objects of economics include six aspects, namely origin, genre, theory, method, problem, and policy.