Preparedness for the New Economy and Its Outcomes

Type Conference Paper - International Scientific Conference Contemporary Challenges of Theory and Practice in Economics: Economics Policy and the Development of Serbia
Title Preparedness for the New Economy and Its Outcomes
Author(s)
Publication (Day/Month/Year) 2007
City Belgrade
Country/State Serbia
URL https://www.researchgate.net/profile/Biserka_Komnenic/publication/275645830_IINTELLECTUAL_CAPITAL_OF​_NATIONS_AND_ECONOMIC_DEVELOPMENT_pp_105-116/links/5541f03e0cf2b790436becf7.pdf#page=125
Abstract
The new economy, knowledge economy, information society are now some of the most frequently cited terms in several branches of social (and other) sciences. From the standpoint of economics, there is disagreement amongst researchers concerning the economic significance of the processes that are associated with new economy. The boundary between new and old economy is not clearly established and very often it is difficult to pinpoint what distinguish those concepts. Yet, different attitudes have something in common, i.e. they came to the agreement that the way of doing business definitely has changed, causing (either positive or negative) effects on people, organizations and society. There are so many proposed indicators pointing to the growing importance of ability to create, distribute and exploit knowledge in economic performance. All of them have what can be concerned a common denominator: investment in ICT (information and communications technologies), as well as investment in intangible assets (education, research and development) are supposed to be sources of competitive advantages of the economy. The above-mentioned investments offer the potential for stronger growth and represent only a first step towards enabling better economic performance. But, lagging behind (whether in proper usage of ICT or in adequate implementation of education improvements in practice) means that any option to be competitive in this context
will be lost.

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