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The Knowledge-Based Economy: Modeled, Measured, Simulated

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As the quantity of knowledge grows, it changes the quality of the interaction of all of the users of that knowledge. This is the theme of Prof. Loet Leydesdorff's book on The Knowledge-based Economy. The questions that Leydesforff asks are "What is the rate of growth in knowledge accumulation?" and "What are the differential impacts of that knowledge on the economy, political decisions, and novelty generation?" To answer these kinds of questions, intuition is not enough - you need a methodology. To his credit, Leydesdorff has developed what is undoubtedly one of the most sophisticated frameworks to date. With it he defines fundamentally new concepts, operationalizes these concepts into indicators and measures, and presents the data and analysis needed to triangulate the phenomenology of "knowledge value-added". This is not a book for the intellectually lazy - it is rigorously reasoned and well illustrated, but for those willing to follow the logic and the argument, it is a new paradigm for the knowledge-based economy.