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A Knowledge Economy Paradigm and its Consequences

Author

Listed:
  • Soete, Luc

    (United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology)

Abstract

During the 1980s and 1990s "Active labour" market reforms opened up labour markets in Europe, making them more flexible without putting in jeopardy the essence of the social security protection model. Countries that went furthest in such "active labour" market reforms such as the UK, the Scandinavian countries, and the Netherlands witnessed not just reductions in unemployment, but also impressive increases in employment participation rates, particularly among underrepresented groups in the labour market. The challenge today appears more or less similar, but this time with respect to knowledge. Interestingly, it is those EU Member States that have succeeded most in "activating" their labour markets and developing better functioning social welfare models that have performed best in terms of knowledge investments. This suggests, that success in boosting knowledge investment generates the public resources for the development of social welfare models capable of addressing rapid change, and in particular the global changes of the 21st Century.

Suggested Citation

  • Soete, Luc, 2006. "A Knowledge Economy Paradigm and its Consequences," MERIT Working Papers 2006-001, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:unumer:2006001
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    File URL: https://www.merit.unu.edu/publications/wppdf/2006/wp2006-001.pdf
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    Citations

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    Cited by:

    1. Ewa Kopczynska & Joao J. Ferreira, 2020. "Smart Specialization as a New Strategic Framework: Innovative and Competitive Capacity in European Context," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(2), pages 530-557, June.
    2. Singh, Lakhwinder & Singh, Baldev, 2009. "National Innovation System in the Era of Liberalization: Implications for Science and Technology Policy for Developing Economies," MPRA Paper 15432, University Library of Munich, Germany.
    3. Singh, Lakhwinder, 2006. "Innovations and Economic Growth in a Fast Changing Global Economy: Comparative Experience of Asian Countries," MPRA Paper 80, University Library of Munich, Germany.
    4. Coccia, Mario, 2015. "General sources of general purpose technologies in complex societies: Theory of global leadership-driven innovation, warfare and human development," Technology in Society, Elsevier, vol. 42(C), pages 199-226.
    5. Michele Cincera & Claudio Cozza & Alexander Tübke, 2014. "Main drivers for local and global R&D sourcing of European Multinational Enterprises," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 4(2), pages 227-245, December.
    6. Moncada-Paternò-Castello, Pietro & Ciupagea, Constantin & Smith, Keith & Tübke, Alexander & Tubbs, Mike, 2010. "Does Europe perform too little corporate R&D? A comparison of EU and non-EU corporate R&D performance," Research Policy, Elsevier, vol. 39(4), pages 523-536, May.
    7. Arvanitidis, Paschalis & Petrakos, George, 2007. "Characteristics of Dynamic Regions in the World Economy: Defining Knowledge-Driven Economic Dynamism," Papers DYNREG19, Economic and Social Research Institute (ESRI).

    More about this item

    Keywords

    Knowledge; Human Capital; Investment; Social Welfare; Technological Change; Social Change; Globalisation;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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