From the Economy of Despair to the Knowledge Economy
The old philosophers stressed that knowledge is power, that knowledge and human power are sprawling, and that the most painful thing for Man was to have knowledge, but lack the strength and that power, which means action and the ability to apply knowledge and transform it into an economy, because that is the ultimate goal in life. Knowledge alone is not enough, and the widening of the knowledge gap deprives most developing countries of genuine participation in the new global economy, which may expose them to many risks, starting with the economy and expanding to include stability and security, as Sheikh Mohammed bin Rashid Al Maktoum said, and what is not meant by the knowledge gap, is that there are those who cannot own knowledge, or those who do not, but it means the inability to manage it, invest it and its meaning, and turn it into an economic resource that benefits from the prosperity of the national income of individuals, and promotes the national economy, yet the knowledge itself, wherever we manage our faces, we will find it, and this is the kindness of nature, according to Da Vinci; in the age of information, ideas are not the preserve of anyone, but the secret is the idea that is implemented at the time and can be invested, i.e. knowledge in humanity, that is in the humanity of all, that knowledge is in humanity, and in the age of information, ideas are not the preserve of anyone. Wisdom lies in its meaning and the ability of it.
The prevailing definition, in the old days, of the economy was to prepare today for the demands of tomorrow, but today’s economy says that we use yesterday’s trees as wood for today, i.e., they have passed the humidity stage and have become dry and investable.
As it seems, talking about the repercussions of the transition from the economy of despair, a hypothetical, not scientific, metaphorical label, to the knowledge economy, requires an intensive definition of both economies and an explanation of their beginnings.
The economy began from the beginning of humanity with simple beginnings, in which it relied on agriculture, or the so-called economy of nature, after which, population density increased, and with scientific development and abundant resources, man was able to discover the surrounding natural resources, and the simple economy thus turned into an industrial economy, but its features were not clarified until after the industrial revolution in Europe.
The concept of a knowledge economy emerged, as it was the result of the technological and cognitive boom and scientific development, and there are some labels that express it, such as the post-industrial economy, the digital economy, etc., but there is no comprehensive or specific definition of it, and perhaps the scientific future will contribute to a specific definition of the concept of the knowledge economy; it can be agreed, however, that information and its technology are the dominant element in the production process, which shape or define production methods, marketing opportunities and areas, and that information may be intended when mere ideas and data are identified, When it is referred to as scientific research, expertise and skills, i.e. the concept of real wealth in knowledge, its measure is that the one who possesses knowledge has wealth.
There are measurable features of the transition from a traditional economy to a knowledge economy, with priorities of human capital, and it seems that the higher the quality of education and the proper management of talent, the more positive the impact on society, the more talented, knowledgeable and traditional capital are the real wealth of nations: those features are the real wealth of nations, those features are the interest in science, knowledge and some investment in them; scientific application in all fields, strategic plans, then interest in sowing justice in society, fighting real corruption; good governance and health care, and finally, caring for young people and giving their energies to their potential in the management of the economic transformation and the drawing of policies, these features depend on a set of pillars, through which the transformation can be measured and its repercussions; innovation that requires not to import foreign technologies, and is self-sufficient in the Arab world, is hampered by the fact that there is a large gap between research conducted in universities and research centers, with the application of such research in industry and services.
Information is a pillar and another criterion of transformation, as the increasing employment in the worlds of information, communication and information in all activities is a hallmark of our world today, a profound interpretation that provides a new understanding of the role of knowledge and human capital in the development of the economy and the progress of society, including the development of alternative media and its role in the national economy.
It is also the development of human skills through training and education, the creation of an appropriate political and social environment, concern for health and human rights, and the creation of skills from the foundations of the transition to a knowledge economy, in this real sense, that Man is the instrument of true development.
Perhaps the most important complication of the transition to a knowledge economy, in addition to what has been introduced, seems in the great challenges facing the Arab world, in order to develop the education system, especially in light of the emergence of new types of it, such as education through simulation, through artificial intelligence devices, such as augmented reality and virtualization, in order to save time and costs, and facilitate in specialities without exception, as simulations can be used even with children to reach the talents of children, and education is the base of construction in the knowledge economy, and therefore needs great efforts, especially in the Arab world.
Also, the trend towards investing in knowledge threatens the existence of superstitions, and David Hume said that both the school (medieval) and theological controversy have hindered the growth of all forms of true knowledge; Freud stressed that the more the fruits of knowledge become available to human beings, the more widespread the rejection of superstition; all of these results are multiple complications of the transition to the economy of knowledge, which is the most important feature of the traditional economy, or the economy of despair, whose manifestations will not make the desired transition towards the economy of science and knowledge pass peacefully. And to talk the rest
Author : Manahel Thabet
Published November 13, 2017
Al Bayan Newspaper