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Why the New Economy is a Learning Economy

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  • Bengt-Åke Lundvall

Abstract

In this paper it is shown that the intense focus on the new economy reflected real change as well as ‘hype’. The basic reason why new economy-growth could not be seen as sustainable is that introducing advanced technologies can only take place successfully when it is accompanied by organizational change and competence-building among employees. Any strategy that gives technology an independent role as problem-solver is doomed to fail. Danish data of a unique character are used to demonstrate that the key to economic performance is to promote learning at different levels of the economy. In the conclusion it is argued that there is a need for a new type of knowledge and learning oriented Keynesianism in order to get close to the kind of growth rates characterizing the high days of the new economy adventure in the US.

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File URL: http://www3.druid.dk/wp/20040001.pdf
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Bibliographic Info

Paper provided by DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies in its series DRUID Working Papers with number 04-01.

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Date of creation: 2004
Date of revision:
Handle: RePEc:aal:abbswp:04-01

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Web page: http://www.druid.dk/

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Keywords: New economy; competences; knowledge;

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References

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  1. Bengt-Âke Lundvall & Peter Nielsen, 1999. "Competition and transformation in the learning economy - Illustrated by the Danish case," Revue d'Économie Industrielle, Programme National Persée, vol. 88(1), pages 67-89.
  2. Bengt-ake Lundvall & Bjorn Johnson, 1994. "The Learning Economy," Industry and Innovation, Taylor & Francis Journals, vol. 1(2), pages 23-42.
  3. Reinhard Lund & Allan Næs Gjerding, 1996. "The Flexible Company Innovation, Work Organisation and Human Ressource Management," DRUID Working Papers 96-17, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  4. Reinhard Lund, 1998. "Organizational and Innovative Flexibility Mechanisms and their Impact upon Organizational Effectiveness," DRUID Working Papers 98-23, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
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Citations

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Cited by:
  1. Shafaeddin, Mehdi, 2006. "Is The Industrial Policy Relevant In The 21st Century?," MPRA Paper 6643, University Library of Munich, Germany.
  2. Ivan hernandez & Fernando Alemàn & Jennifer Taborda, 2007. "“Parquesoft” : A study of social entrepreneurship in software industry cluster in Cali, Colombia," REVISTA FACULTAD DE CIENCIAS ECONÓMICAS, UNIVERSIDAD MILITAR NUEVA GRANADA.
  3. Todtling, Franz & Trippl, Michaela, 2005. "One size fits all?: Towards a differentiated regional innovation policy approach," Research Policy, Elsevier, vol. 34(8), pages 1203-1219, October.
  4. Asheim, Bjørn & Coenen, Lars, 2005. "The Role of Regional Innovation Systems in a Globalizing Economy: Comparing Knowledge Bases and Institutional Frameworks in Nordic Clusters," CIRCLE Electronic Working Papers 2005/3, Lund University, CIRCLE - Center for Innovation, Research and Competences in the Learning Economy.
  5. Michaela Trippl, 2006. "Cross-Border Regional Innovation Systems," SRE-Disc sre-disc-2006_05, Institute for the Environment and Regional Development, Department of Socioeconomics, Vienna University of Economics and Business.
  6. Daniele Schilirò, 2007. "Knowledge, Learning, Networks and Performance of Firms in Knowledge-Based Economies," CRANEC - Working Papers del Centro di Ricerche in Analisi economica e sviluppo economico internazionale crn0702, Università Cattolica del Sacro Cuore, Centro di Ricerche in Analisi economica e sviluppo economico internazionale (CRANEC).
  7. K.J. Joseph & Govinda Parayil, 2006. "Trade liberalization and digital divide: An Analysis of the information technology agreement of WTO," Centre for Development Studies, Trivendrum Working Papers 381, Centre for Development Studies, Trivendrum, India.
  8. Michaela Trippl & Lukas Lengauer & Franz Tödtling, 2007. "Innovation und Wissensnetze im Wiener Informations- und Kommunikationtechnologiecluster," SRE-Disc sre-disc-2007_02, Institute for the Environment and Regional Development, Department of Socioeconomics, Vienna University of Economics and Business.
  9. Raina, Rajeswari S. & Sangar, Sunita & Rasheed Sulaiman, V. & Hall, Andrew J., 2006. "The soil sciences in India: Policy lessons for agricultural innovation," Research Policy, Elsevier, vol. 35(5), pages 691-714, June.
  10. Bramwell, Allison & Wolfe, David A., 2008. "Universities and regional economic development: The entrepreneurial University of Waterloo," Research Policy, Elsevier, vol. 37(8), pages 1175-1187, September.
  11. Peter Nielsen & Palle Rasmussen, 2011. "Knowledge management in the firm: concepts and issues," International Journal of Manpower, Emerald Group Publishing, vol. 32(5/6), pages 479-493, September.
  12. Shafaeddin, Mehdi, 2006. "Does trade openness helps or hinders industrialization?," MPRA Paper 4371, University Library of Munich, Germany.
  13. Encinar, María Isabel & Muñoz, Félix & Cañibano, Carolina, 2006. "‘Ethical Novelty’: new insights into economic change," Working Papers in Economic Theory 2006/03, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
  14. Lars Frederiksen & Silvia Rita Sedita, 2005. "Embodied Knowledge Transfer Comparing inter-firm labor mobility in the music industry and manufacturing industries," DRUID Working Papers 05-14, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  15. Nelly-Eleni Pavlidou & Persefoni V. Tsaliki & Ioannis N. Vardalachakis, 2011. "Technical change, unemployment and labor skills," International Journal of Social Economics, Emerald Group Publishing, vol. 38(7), pages 595-606, July.
  16. Bengt-Åke Lundvall, 2006. "Knowledge Management in the Learning Economy," DRUID Working Papers 06-06, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  17. Komnenic, Biserka & Tomic, Danilo Vlastimir & Tomic, Gordana Radovan, 2010. "Measuring Efficiency Of Intellectual Capital In Agriculture Sector Of Vojvodina," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 4.

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