Diamonds and “the Golden Flute”: from the Golden Age of prodigies and geniuses to the Knowledge Based Digital Economy

Marianne Ojo

MPRA Paper from University Library of Munich, Germany

Abstract: Information sharing, as a means of resource generating capabilities – as well as mitigating information gaps which present challenges to the development of innovative techniques, has also been facilitated through information technology, the rise of the digital economy and resources which avail from the rapidly advancing era of information technology. To what extent are our creative abilities still motivated and stimulated? Can an unhealthy balance and level of competition serve as a deterrent to constructive innovation? This paper attempts to investigate – as well as appreciate the role of information technology in generating economic stimulus and development – particularly in a world where budding entrepreneurs and innovation constitute key elements in addressing poverty alleviating initiatives. It also aims to highlight why, whilst certain geniuses may still exist, it is certainly evident that the current environment does not really stimulate or generate the same enthusiasm or kind of magical revolution that took place during the Golden Age.

Keywords: competition; innovation; information technology; digital economy; the Magic Flute; the Knowledge Based Economy (search for similar items in EconPapers)
JEL-codes: E6 F1 F12 F18 F6 K2 M40 M41 Q5 (search for similar items in EconPapers)
Date: 2017-11
New Economics Papers: this item is included in nep-ino, nep-knm and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:82217

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