Saturday 3 December 2016

We've still some distance to travel before we reach the knowledge economy...

Published 28/06/2015 | 02:30

Since 2007, the number of people employed to carry out R&D has grown by almost 11,000 to 25,000 people
Since 2007, the number of people employed to carry out R&D has grown by almost 11,000 to 25,000 people

The white heat of technology. The driving force of scientific progress. The embrace of innovation.

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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.

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