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Knowledge CapitalismBusiness, Work, and Learning in the New Economy$
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Alan Burton-Jones

Print publication date: 1999

Print ISBN-13: 9780198296225

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198296225.001.0001

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The Rise of Knowledge Capital

The Rise of Knowledge Capital

Chapter:
(p.2) (p.3) Chapter 1 The Rise of Knowledge Capital
Source:
Knowledge Capitalism
Author(s):

Alan Burton-Jones

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198296225.003.0001

Wealth and power are traditionally associated with the possession of various physical resources. Factors of production, materials, labour, and money are all physical in nature. We are now, however, experiencing a shift from a world largely dominated by physical resources to a world that values knowledge and intellectual resources. In a post-industrial society, goods are being replaced by services. This chapter illustrates the impact that the knowledge industry has on work and on jobs and defines knowledge, presents its key characteristics, and establishes the economic value of knowledge. The chapter also includes a discussion about the commercial application of information technology (IT), how it has evolved, and how trends in IT influence the growth and development of the knowledge industry.

Keywords:   physical resources, intellectual resources, knowledge, post industrial society, IT

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