The weightless economy in economic development.
CEP discussion paper; CEPDP0417,
Centre for Economic Performance, London School of Economics and Political Science, London, UK.
Can the increasing significance of knowledge-products in national income - the growing weightless economy - influence 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, education, 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.
||© 1999 the author
||China, copyright, growth, information technology, intellectual property, knowledge-product, patent, software, Superstars, tacit knowledge
|Library of Congress subject classification:
||H Social Sciences > HB Economic Theory
|Journal of Economic Literature Classification System:
||N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N15 - Asia including Middle East
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O33 - Technological Change: Choices and Consequences; Diffusion Processes
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