Knowledge Economy - The Four Pillars of The Knowledge Economy

Knowledge Economy - The Four Pillars of The Knowledge Economy:

The Four Pillars of The Knowledge Economy The following pillars are four critical requisites for a country to be able to fully participate in the knowledge economy: Education & Training An educated and skilled population is needed to create, share and use knowledge. Information Infrastructure A dynamic information infrastructure-ranging from radio to the internet-is required to facilitate the effective communication, dissemination and processing of information. Economic Incentive & Institutional Regime A regulatory and economic environment that enables the free flow of knowledge, supports investment in Information and Communications Technology (ICT), and encourages entrepreneurship is central to the knowledge economy. Innovation Systems A network of research centers, universities, think tanks, private enterprises and community groups is necessary to tap into the growing stock of global knowledge, assimilate and adapt it to local needs, and create new knowledge.