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

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  • Ojo, Marianne

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.

Suggested Citation

  • Ojo, Marianne, 2017. "Diamonds and “the Golden Flute”: from the Golden Age of prodigies and geniuses to the Knowledge Based Digital Economy," MPRA Paper 82217, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:82217
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    File URL: https://mpra.ub.uni-muenchen.de/82217/1/MPRA_paper_82217.pdf
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    More about this item

    Keywords

    competition; innovation; information technology; digital economy; the Magic Flute; the Knowledge Based Economy;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F1 - International Economics - - Trade
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F18 - International Economics - - Trade - - - Trade and Environment
    • F6 - International Economics - - Economic Impacts of Globalization
    • K2 - Law and Economics - - Regulation and Business Law
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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