The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. The key element of value is the greater dependence on human capital and intellectual property as the source of innovative ideas, information and practices. Organisations are required to capitalise on this "knowledge" in their production to stimulate and deepen the business development process. There is less reliance on physical input and natural resources. A knowledge-based economy relies on the crucial role of intangible assets within the organisations' settings in facilitating modern economic growth.
The New Economy refers to the ongoing development of the American economic system. It evolved from the notions of the classical economy via the transition from a manufacturing-based economy to a service-based economy, and has been driven by new technology and innovations. This popular use of the term emerged during the dot-com bubble of the late 1990s, where high growth, low inflation, and high employment of this period led to optimistic predictions and flawed business plans.
William Jack Baumol was an American economist. He was a professor of economics at New York University, Academic Director of the Berkley Center for Entrepreneurship and Innovation, and Professor Emeritus at Princeton University. He was a prolific author of more than eighty books and several hundred journal articles. He is the namesake of the Baumol effect.
Entrepreneurial economics is the field of study that focuses on the study of entrepreneur and entrepreneurship within the economy. The accumulation of factors of production per se does not explain economic development. They are necessary factors of production, but they are not sufficient for economic growth.
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group, following the release of World Development Report 2002. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. Higher rankings indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Other researchers find that the distance-to-frontier measure introduced in 2016 after a decision of the World Bank board is not correlated with subsequent economic growth or investment.
Zoltan J. Acs is an American economist. He is Professor of Management at The London School of Economics (LSE), and a professor at George Mason University, where he teaches in the Schar School of Policy and Government and is the Director of the Center for Entrepreneurship and Public Policy. He is also a visiting professor at Imperial College Business School in London and affiliated with the University of Pecs in Hungary. He is co-editor and founder of Small Business Economics.
Professor Dylan Jones-Evans OBE PhD FRSA was born in Bangor, Gwynedd and brought up in Pwllheli on the Llyn Peninsula. He is currently Assistant Pro-Vice-Chancellor (Enterprise) and the chair in entrepreneurship at the University of South Wales. He is visiting professor of entrepreneurship at the University of Turku in Finland, newspaper columnist and the creator of the Wales Fast Growth 50, an annual barometer of entrepreneurial firms in Wales.
David Bruce Audretsch is an American economist. He is a distinguished professor at the School of Public and Environmental Affairs (SPEA) at Indiana University and also serves as director of the SPEA International Office, Ameritech Chair of Economic Development, and director of SPEA's Institute for Development Strategies (IDS). He is co-founder and co-editor of Small Business Economics: An Entrepreneurship Journal, and also works as a consultant to the United Nations, the World Bank, the OECD, the EU Commission, and the U.S. Department of State. He was the director of the Entrepreneurship, Growth and Public Policy Group at the Max Planck Institute of Economics in Germany from 2003 to 2009. Since 2020, he also serves as a distinguished professor in the Department of Innovation Management and Entrepreneurship at the University of Klagenfurt.
Innovation economics is new, and growing field of economic theory and applied/experimental economics that emphasizes innovation and entrepreneurship. It comprises both the application of any type of innovations, especially technological, but not only, into economic use. In classical economics this is the application of customer new technology into economic use; but also it could refer to the field of innovation and experimental economics that refers the new economic science developments that may be considered innovative. In his 1942 book Capitalism, Socialism and Democracy, economist Joseph Schumpeter introduced the notion of an innovation economy. He argued that evolving institutions, entrepreneurs and technological changes were at the heart of economic growth. However, it is only in recent years that "innovation economy," grounded in Schumpeter's ideas, has become a mainstream concept".
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk, and potentially involving values besides simply economic ones.
The phrase women in business refers to women who hold positions, particularly leadership in the fields of commerce, business, and entrepreneurship. It advocates for their increased participation in business.
This article covers the best practices and movement for reform in entrepreneurship policies in the United Arab Emirates.
The Kauffman Index of Entrepreneurial Activity, also known as the Kauffman Index of Entrepreneurship, is a leading indicator of new business creation in the United States, which has been cited in academic journals such as Small Business Economics.
This article covers the best practices and needs for reform in entrepreneurship policies in Egypt.
This article covers the best practices and needs for reform in entrepreneurship policies in Saudi Arabia.
This article covers the best practices and needs for reform in entrepreneurship policies in Syria.
The Mumbai Consensus is a term used to refer to India's particular model of economic development, with a "people-centric" approach for managing its economy which may be taken up by other developing nations in time. Indian model of economic growth, which relies on its domestic market more than exports, boosted domestic consumption rather than investment, pursued service-oriented industries rather than low-skilled manufacturing industries, and has greatly differed from the typical Asian strategy of exporting labor-intensive, low-priced manufactured goods to the West. This model of economic development remains distinct from the Beijing Consensus with an export-led growth economy, and the Washington Consensus focused instead on encouraging the spread of democracy and free trade.
Female entrepreneurs are women who organize and manage an enterprise, particularly a business. Female entrepreneurship has steadily increased in the United States during the 20th and 21st century, with number of female owned businesses increasing at a rate of 5% since 1997. This growth has led to the rise of wealthy self-made females such as Coco Chanel, Diane Hendricks, Meg Whitman, and Oprah Winfrey.
A unicorn bubble is a theoretical economic bubble that would occur when unicorn startup companies are overvalued by venture capitalists or investors. This can either occur during the private phase of these unicorn companies, or in an initial public offering. A unicorn company is a startup company valued at, or above, $1 billion US dollars.
Richard T. Curtin is an American economist, academic and researcher. He is a Research Professor and has been the Director of Consumer Sentiment Surveys at University of Michigan since 1976.
