We've still some distance to travel before we reach the knowledge economy...
Published 28/06/2015 | 02:30
The white heat of technology. The driving force of scientific progress. The embrace of innovation.
Science, technology and innovation are the motherhood and apple pie of economics - everyone supports them and nobody is against them. And that is the case for good reason.
Although economists still know surprisingly little about why some countries are rich and others poor, there is a broad consensus that technological advancement is a central element in increasing prosperity. That is because more efficient ways of doing things allow each one of us to produce more. And increasing productivity is the holy grail of economic development.