By examining the rhetoric and reality of knowledge-driven growth over the last three decades, the book highlights the flawed assumptions underpinning this policy agenda, showing how its economic shortcomings map on to patterns of political discontent evident today. The shift to knowledge-driven growth appeared to offer policymakers a way of harnessing technological progress and global economic integration for progressive purposes, and justifying progressive policies in terms of the economic benefits that they would produce.Nick ODonovan tells the story of how the techno-optimism once associated with the rise of the knowledge economy came to be supplanted by widespread anxiety about technological progress, and how the political consensus that formed around a knowledge-driven growth agenda has unravelled, paving the way for the electoral upheavals experienced by many developed democracies in recent years. It will be of interest to students, scholars, academics, think-tank researchers and economic policy practitioners at the national and/or supranational levels.In the 1990s, the knowledge economy was hailed by policy-makers in developed democracies as an antidote to the anxieties arising from the era of market liberalization an era characterized by the decline of skilled blue-collar work, increasing levels of social exclusion and widening regional inequality. It identifies ways to trigger opportunities for behavioural change in the economic profession with respect to how and what to teach, introducing and developing further complexity economics taking into account the configuration of its main principles and outlining the silhouette of next-generation economic governance.The book deciphers recommendations for economic theory, practice, education and economic governance.
With its interdisciplinary approach, the book scans the nuanced nexus between complexity and economics by incorporating, as well as transcending, the state-of-the-art literature. The book revolves around the non-negligible problem of why economics, to date, seems to be inadequate in guiding economic governance to navigate through real and ever-intensifying complex socioeconomic and environmental challenges.
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There is increasing pressure on economics to not only going beyond its traditional mainstream boundaries but also to tackle real-world problems, such as fostering structural change, enhancing sustained growth, promoting inclusive development in the era of the digital economy, and boosting green growth, while addressing the divide between the financial sector and the real economy.This book demonstrates how to apply complexity science to economics in an effective and instructive way, in the interest of life-enhancing policies. Unfortunately, addressing complexity requires a different kind of economic governance. 7adf863b-426c-3ba1-a045-87d35c800abd Complexity Economics Our socioeconomic innovation ecosystem is riddled with ever-increasing complexity, as we are faced with more frequent and intense shocks, such as COVID-19. It will be of interest to students, scholars, academics, think-tank researchers and economic policy practitioners at the national and/or supranational levels.
Our socioeconomic innovation ecosystem is riddled with ever-increasing complexity, as we are faced with more frequent and intense shocks, such as COVID-19.
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