Knowledge economy

The knowledge economy is an economic regime where knowledge-intensive manufacturing and service-based activities dominate and the skills and innovations lie at the heart of the regional and national economies as opposed to a Fordist economy which is dependent upon a division of unskilled labour.[1] It is widely recognised that the UK is a knowledge economy with 40% of GDP accounted for by knowledge-based industries using UK national data[2] and the OEDC estimates that half of its members economies are now knowledge based.

## References[edit]

1. ↑ Gregory, D., Johnston, R., Pratt, G., Watts, M., & Whatmore, S. (2009). The Dictionary of Human Geography. Padstow: Wiley-Blackwell.
2. ↑ Brinkley, I. (2006). Defining the knowledge economy, Knowledge economy programme report. The Work Foundation.