The Weightless Economy in Economic Development
Can the increasing signicance of knowledge-products in national income- the growing weightless economy-infuence economic development? Those technologies reduce "distance" between consumers and knowledge production This paper analyzes a model embodying such a reduction. The model shows how demand-side attributes-consumer attitudes on complex goods; training, educa tion, and skills for consumption (rather than production)-can importantly affect patterns of economic growth and development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the analysis.
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|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: United Nations University; World Institute for Development Economics Research, Katajanokanlaituri 6B, 00160 Helsinki|
Web page: http://www.wider.unu.edu/
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