Why knowledge is the new engine of economic growth

Article Abstract:

It is widely acknowledged that new driving forces for economic growth and wealth creation are emerging. However, there are very differing views about the precise nature of these changes and about the possible implications. Economies are certainly becoming more weightless, with intangible value taking a growing share of economic output. Professor Danny Quah of the London School of Economics argues that economic value in a weightless economy is infinitely expansible. This means that an individual's use of a piece of knowledge does not prevent others from using it.

Analysis, Value (Economics)

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It's good to get rich, so let's abandon the politics of envy

Article Abstract:

UK Chancellor Gordon Brown should make it clear in his pre-Budget statement that the government will encourage people who wish to become very rich by creating successful businesses. He should use changes in the tax regime to boost business start-ups, and should ensure that tax incentives are not too complex. He must recognize that there cannot be wealth creation in an economy unless some people become extremely rich.

United Kingdom, Tax policy, Entrepreneurship, Brown, Gordon (British politician)

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