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Most of the "knowledge driven economy" is bullshit imo. They're busywork that allows societies that already have a lot of wealth to distribute it to their middl
by knolax 6y ago
Most of the "knowledge driven economy" is bullshit imo. They're busywork that allows societies that already have a lot of wealth to distribute it to their middle and upper class. People like HFTs don't create nearly the same amount value as their income justifies.
- praveen9920 6y agoIt's interesting to note that India's 7% gdp is from software and tech related exports. Knowledge driven economy is not a myth in the case is india
- desikoder 6y agoWell, most of that comes by building products from established standards by the west and providing support services. So, the point remains, knowledge based economy, while certainly useful, is not the only way for an economy to grow. Sheer hardwork can be an immense force too, that's what the chinese did over the years and what this article points to as well.
- praveen9920 6y agoMy point is that, with the transformation coming, sheer hardwork will lose the relevance. China did it when world still needed humans to do lot of manufacturing which is changing very rapidly. In fact, India's manufacturing sector is not adapting lot of automation just to make sure they can capitalise human effort which may be cheaper now but may not be in future ( just like in China)
- teatree 6y agoCorrect, but have you thought about what that 7% serves ? Most of it goes to manage real businesses in US and other countries Chase, Walmart, Maersk etc.
- praveen9920 6y agoDoes it really matter whom it serves as long as it improves our economy? BTW what makes you think software is not a real business? It is as essential as manufacturing now. That has been our policy from a while. To further my point, India is still the biggest exporter of beef.