Challenge Of Knowledge Economy To Traditional Economic Theory

As for the fact that the era of knowledge economy has arrived, people are increasingly revealing their characteristics.

But how to accurately understand the definition, connotation and theoretical significance of knowledge economy, etc., is an indisputable fact that the era of knowledge economy has arrived. People are increasingly revealing their characteristics.

But how to accurately understand the definition, connotation and theoretical significance of knowledge economy is still a difficult problem.

People can clearly feel its existence, but how it exists, how it exists and how it is used is still beyond comprehension.

The desire of this article is to do some useful thinking on the above problems from the perspective of interaction between reality and theory.

According to the definition of the world economic cooperation and Development Organization (OECD), the knowledge-based economy is a knowledge-based economy, which is based on modern science and technology, and is built on the production, storage, use and consumption of knowledge and information.

A lot of information we have seen shows that when people emphasize the concept of knowledge economy, they are mainly different from the material economy and capital economy that matter and capital play a leading role in production.

The growth of modern economy is more and more dependent on the increase of knowledge content.

Knowledge plays a very important role in the creation of modern social value, which is much higher than that of people, wealth and goods.

Therefore, the formulation of knowledge economy can be said to refer to the basic role of knowledge in the creation of value in modern society.

However, it can not be assumed that knowledge economy is just different from the so-called material economy or capital economy.

First, the division of human economic era includes natural economy and industrial economy, but there is no reference to material economy or capital economy.

Second, the division of an economic era is not what is produced, but what production is used. This includes a major difference, that is, the dominant production tool and the industry formed by a certain society, which is obviously not reflected by the material economy or the capital economy.

Knowledge economy not only shows its existence from the core role of knowledge in production, but also more importantly, the knowledge-based industry with the dominant economic growth represented by the information industry has been formed.

For this reason, American economist Romer suggests that knowledge must be included in the production factor function when calculating economic growth.

Therefore, OECD defines the knowledge-based economy, that is, knowledge based economy. It reveals the basic role of knowledge in modern economic growth and accurately reflects the reality of knowledge economy.

Therefore, we must understand the knowledge economy from the perspective of the economic era, so as to truly reflect the historic changes in the form of social wealth creation and the great reality that human society has entered a new mode of production.

We believe that knowledge economy is a new era of natural economy and industrial economy in the form of human wealth creation.

We call it knowledge economy, we must make this appellation have the corresponding economic theory foundation.

This needs a breakthrough point. This entry point is obviously not the reflection of some knowledge in the press, but the theoretical basis for demonstrating the possibility of knowledge economy. This is the core of the problem.

Two, the impact of knowledge economy on the basic theory of economics. The impact of knowledge economy on economic theory is first and foremost.

The emergence of knowledge economy makes the basic theory of economics necessarily explain and reflect the new essence of this social and economic life, so as to build the economics guiding the new practice of human economy on the cornerstone of the updated basic theory of economics.

Facts have proved that some areas of economics have initially consciously or unconsciously reflected the impact of this new economy.

In particular, Becker's human capital theory, development economics, marketing and some managerial economics have been highlighted, which has been increasing the separation of the basic theories of department economics and economics.

We have seen the reality of the knowledge economy, but the theory we use to solve the problem is not based on this reality.

This is the inevitability of the old theory of inaction.

Looking at all the economic activities of human society, there are two contents. One is the creation of social wealth, and the other is the distribution of social wealth.

Our research is mainly aimed at the first question. What is the core of this problem is what is the wealth of a certain society?

How can we achieve this wealth growth?

The understanding of these two problems has formed the basic theory of economics in this society, that is, value theory and growth theory.

From an economic point of view, we examine what new social wealth that a society seeks and how it can be created. We can not but see that the creation of new social wealth is always constrained by the social mode of production at that time.

From the accumulation of money and property in the ancient society, the social wealth, and the form of wealth growth which paid attention to the plunder of agriculture and animal husbandry and the war robbing, and William Petty essentially revealed that "labor is the father of wealth, the land is the mother of wealth" in the creation of social wealth under the conditions of agricultural economy.

The results of the work here are directly represented by the social wealth recognized by the society.

With the advent of liberal capitalism, mercantilism firmly believes that commercial trade creates value and enhances social wealth.

In fact, commercial trade is only a pfer of real social wealth, and can not fundamentally create new social wealth.

For the first time, Adam Simy and David Ricardo went deep into the core of the human economy, and revealed the essence of the wealth growth of human society.

Under the condition that capitalism has entered the typical industrial production mode, Marx has perfected and developed the theory of labor value (especially the theory of surplus value, which reveals the proliferation of capitalist wealth).

These theories focus on the formation of new social wealth in a certain economic era, which is related to a certain mode of production.

In the era of natural economy, the creation of new social wealth (value) is mainly human labor, labor is mainly human physical labor; in the industrial economy period, the creation of new social wealth (value) is mainly advanced mechanical force, especially in the mature stage of the industrial economy. Machine driven labor has become the basic form of social wealth creation.

The new social wealth is expressed as a commodity that satisfies people's needs of all kinds of life. The size of the commodity and the amount of social recognition are directly determined by the progressiveness of the technology used to produce them.

This makes the labor theory of value in the industrial economic era typically shown as the technological determinism of value.

When human beings enter the era of knowledge economy in post industrial society, the labor value theory, which reflects the creation of social wealth in the industrial economic era, shows obvious limitations in the new mode of production.

First of all, in the modern enterprise production, people realize that knowledge management outside the labor process has also become an important factor in creating commodity value. The economic circles have also proposed that management is the fourth element of creating value.

Management is precisely the knowledge and information formed by the continuous deepening of the understanding of the nature of the enterprise. Managers are using these knowledge and information to serve the production process and actually increase the value of the product.

Delphi Group even proposed enterprise knowledge management, which is the key to the success of modern enterprises.

It is pointed out that although the primary goal of knowledge management is not technology, companies will find that they can not be competitive if they leave knowledge management in the knowledge economy.

(Reference News April 26, 1998): second, in the free competition of the market, a large amount of advertising fees, sponsorship fees and all kinds of social inputs invested by enterprises in the non productive areas are not used in the field of direct production, and labor value theory will not create value.

Now, I am afraid that no friends in the business community will deny the huge returns in this regard. The investment in these non productive areas has greatly increased the popularity and reputation of the enterprises in the free competition market. These knowledge and information are so deeply affecting the choice of consumers that they play a key role in the value and the realization of the commodities.

Third, now let us look at the information industry, a leading industry that has risen to the age of knowledge economy.

Americans are proud to point out that the information industry has become the largest source of new economic growth in the US economy, accounting for about 40% of the US's economic growth in recent years.

If you do not have a sensitive understanding of this figure, then you will be interested in this group of figures: a Microsoft computer company that has only developed assets for more than ten years, but has assets of 200 billion US dollars, and a general motors company that has only developed 40 billion dollars in more than 100 years. It has been an indisputable fact that the era of knowledge economy has arrived in the era of American industrial economy, and people are increasingly revealing its characteristics.

But how to accurately understand the definition, connotation and theoretical significance of knowledge economy?

Microsoft's job is not to give you bread, cars or real steel that can be consumed directly.

It provides the society with only computers dealing with information and all kinds of software that can meet your needs for knowledge management. There is almost no way to analyze it with labor value theory. The most advanced knowledge is directly converted into the greatest value here, and outdated knowledge is also worthless here.

The same programmers and the same work intensity, but the value created may vary widely.

The only basis for value formation here is to compare its knowledge content.

In other high-tech industries such as biotechnology, space technology and optoelectronics industry, knowledge is directly related to the size and value of the value they can create.

Perhaps just because a hyphen omission makes billions of dollars disappear, perhaps only because of a new formula and multiplied by value.

Here we have completely lost the form of production and Realization of social wealth in the era of industrial economy. The wealth of society in the era of knowledge economy has been directly linked to the most valuable knowledge of mankind. This not only breaks through the old concept of social wealth, but also directly creates a new social wealth for mankind at an unprecedented rate.

To sum up, knowledge is now freely existing in the new social wealth that has been continuously created. It has profoundly changed the connotation and basic theory of the basic categories of economics.

As we have analyzed, the newly created social wealth in a certain economic era always reflects the essence of social production in a certain economic era, and through this essence, pforms the social production mode of a certain era to a higher level.

Therefore, we can say that everything is wealth, everything is not wealth, and the investigation of new social wealth must be combined with a certain mode of production.

If the value of goods in the industrial economic era mainly refers to the undifferentiated human labor under certain technical conditions, and the value reflects the competition in the amount of labor time, the commodity value in the knowledge age mainly refers to the knowledge and information contained in the undifferentiated human labor, and the value is reflected in the competition of knowledge and information in labor.

The new wealth we have created is unknown, but we realistically change the redistribution of social wealth that has been formed through current labor.

In this vicious circle of cyclones, because of the limited social wealth that people consume in real consumption demand, a large number of social wealth indicates the creative ability of social production by means of empty numerical indicators, because the way to form new social wealth growth is unique, so the competition for the core element of new production value under certain production mode is the essence of social economic growth.

The division, possession and accumulation of such core elements are the division, possession and accumulation of new social wealth.

In this sense, the last sentence of the definition of OECD is not unreasonable.

Therefore, in the era of knowledge economy, the theory of economic labor value, which is compatible with the industrial age, needs to be developed urgently.

Only by solving this problem can we explain that the knowledge economy exists and make the knowledge-based economy have a reasonable theoretical basis, and integrate the reality we see and the theory we use to solve realistic problems.

Three, the change of knowledge economy to the form of social wealth creation necessarily means that the growth theory, monetary theory, cycle theory and some other theories of traditional economics must be reconstructed. Knowledge economy is showing us a new mode of production and growth in the modern economy with its rapid development in reality, which makes the theories of connotative growth, epitaxial growth, scale economic growth, input output and other growth theories revealed by traditional economic theories show serious deficiencies.

First of all, knowledge is in modern times.