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Economic Growth In Conditions Of A Knowledge Society

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  • Lilia Ghiþiu

    (IEFS, Chisinau, Republic of Moldavia)

Abstract

The economic growth is the most actual at each sector of social life. In conditions of building knowledge society, science development is the most important. Economic science especially, is in a great demand, struggling with other sciences are more and more getting involved in the mater. The stability, besides the growth, has become an objective of national policies. The goal of accelerating economic growth sometimes is raising question and controversies. Such as: What is the price of growth? Should government avoid accelerating economic growth in order to promote other social values? On the other hand the 21st century is considered a century when science determines economical and humanist development of the whole World. However, science development occurs completely irregularly. According to Science Citation Index (SCI), the USA share in the Global Informational Process is around 30%, but the share of the 20 developed countries makes 90 %, of which 70% belong to G8 (the most developed countries). This discrepancy between developed and less developed countries continues to grow. Another aspect of this problem is Globalization, which is the creation of universal financial and information space based on new computer technologies. This process is developing on a spiral: from High- Tech to High- Hume. As consequence, this unique financial - information space makes a non-uniform social and economic development of various states and regions, resulting in a “gold billion” on one pole and a pronounced poverty on the other. This discrepancy grows in time. As we know, science has three main functions: socialcultural, knowledge and economical. It is known that if science financing makes less than 0,4 % from GDP, then it can carry out only the social-cultural function. Its real influence on economic development can be achieved when science financing is more than 1 % from GDP. Science recognition has to be a national priority strategy. Science is a force, which catalyzes the country’s sustainable development.

Suggested Citation

  • Lilia Ghiþiu, 2008. "Economic Growth In Conditions Of A Knowledge Society," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 41(4), pages 13-22.
    • Handle: RePEc:blg:reveco:v:41:y:2008:i:4:p:13-22
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    References listed on IDEAS

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    1. Paul A. David & Dominique Foray, "undated". "Economic Fundamentals of the Knowledge Society," Working Papers 02003, Stanford University, Department of Economics.
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