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Cognition, learning and European regional growth: an agent-centred perspective on the “new” economy

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  • Paul Tracey
  • Gordon Clark
  • Helen Lawton Smith

Abstract

Quintessentially a US phenomenon, the information and knowledge economy (IKE) combines regional clusters of innovation with new and sophisticated forms of intellectual and finance capital. For those European economies struggling to adjust to global competition, the IKE is seen as the panacea. It is regarded as a proven recipe for all places and sectors, with the potential to remedy structural weaknesses that have become ever more apparent in a world subject to globalisation, increased international competition, and technological change. We suggest an agent-centred perspective for understanding economic systems and behaviour that stresses the significance of cognition and learning for innovation while making the connection between organizations and their environments. We argue that the IKE, as represented by regions such as Silicon Valley and Route 128/495 Boston, is complex and multi-faceted and cannot be transposed easily between cultures. Finally, we draw together the implications of our approach for European regional development.

Suggested Citation

  • Paul Tracey & Gordon Clark & Helen Lawton Smith, 2004. "Cognition, learning and European regional growth: an agent-centred perspective on the “new” economy," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 13(1), pages 1-18.
    • Handle: RePEc:taf:ecinnt:v:13:y:2004:i:1:p:1-18
    DOI: 10.1080/1043859042000156002
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    References listed on IDEAS

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    1. Paul Tracey & Gordon L. Clark, 2003. "Alliances, Networks and Competitive Strategy: Rethinking Clusters of Innovation," Growth and Change, Wiley Blackwell, vol. 34(1), pages 1-16, February.
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    Cited by:

    1. Helen Lawton Smith & Sharmistha Bagchi-Sen & Laurel Edmunds, 2016. "Innovation capacity in the healthcare sector and historical anchors: examples from the UK, Switzerland and the US," The Journal of Technology Transfer, Springer, vol. 41(6), pages 1420-1439, December.

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