ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Exhausting Times

Epistemic Fortitude

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The 21st-century economic order is conceptualised as the “knowledge economy.” This is an iteration of an unprecedented necessity for the production of useful, advanced, quanti­tative and qualitative knowledge as a resource in institutions of higher education, to enhance the productivity of labour, efficiency of technology and ­capital liquidity.

In 2006 at a conference on “Knowledge Economy: Challenges for Measurement” organised by the European Commission, the Director-General of Eurostat, Günther Hanreich in his opening speech said,

The knowledge economy refers to the use of knowledge to produce economic benefits. It is thus of immediate importance to policy makers, researchers and citizens alike.

Various observers describe today’s global economy as one in transition to a “knowledge economy” or an “information society.” As part of this transformation process, the rules and practices that determined success in the industrial economy of the 20th century need rewriting where knowledge becomes the most critical economic resource. (Eurostat 2006: 9)

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Updated On : 23rd Jul, 2020

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