• The Economics of Knowledge: The framework and fundamental issues

    Subjects: Management Science >> Other Disciplines of Management Science submitted time 2022-04-22

    Abstract:

    "This paper formally proposes the new theoretical system of knowledge economics. Knowledge economics studies the law that knowledge creates economic value, and is a discipline that studies the effective use and allocation of resources and generates economic value on the basis of nearly infinite growth of data resources. Knowledge economics abandons the assumption of "limited resources" in traditional economics, and explores the laws of resource utilization, resource allocation, and resource creation on the basis of nearly unlimited data resources. Knowledge economics has its own research paradigm, research framework and corresponding basic problems. Based on the different perspectives of the status of data resources, knowledge economics covers the link economy stage, the digital economy stage and the knowledge economy stage. This paper also gives some specific examples, related methods and roles of knowledge-based economics corresponding to the research issues, making it clear that knowledge-based economy is the development direction of the economic system, and at the same time, it is given that the knowledge-based economy in finance is financial technology.

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