Friday, July 28, 2017

With the N-power electronic devices we are one step closer to building a knowledge economy (My Thought)

N-power Posted a Topic of discussion on their official Facebook Page and ask Volunteers to discuss it.

The Topic is "What is the meaning of a knowledge economy?"

According to N-power, with the N-power electronic devices we are one step closer to building a knowledge economy.

So what did that actually mean?.

Well, we did some little research to find out what is knowledge economy. below is what we discover:

A knowledge economy is an economy in which growth is dependent on the quantity, quality and accessibility of the information available, rather than the means of production.

According to sciDevNet Knowledge economy was coined in 1960s to describe a shift from traditional economic to ones where the production and use of knowledge are Paramount. SciDevNet  also explains in an article that according to the World Bank, knowledge economic are defined by four pillars. However we pick the first pillar out of the four which explained knowledge economy as institutional structures that provide incentives for entrepreneurship and the use of knowledge, skilled labour available and good education system, ICT infrastructure and access, and finally, a vibrant innovation landscaped that include academia, the private sector and civil society.

To relate this to N-power electronic device the information, content preloaded on the device will enable volunteers acquired knowledge and skills through research that will make them productive.

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