Economic Transformation Requires New Methods
Economic Transformation Requires New Methods of Economic Development Evaluation
Web: http://www.camoinassociates.com/blog/post/Economic-Transformation-Requires-New-Methods-of-Economic-Development-Evaluation.aspx
- The last stages of the Industrial Economy – This stage is focused on competing for business attraction and retention/expansion within specific geographic areas primarily through incentives to lower costs, infrastructure provision, access to financing, and worker training.
- Knowledge Economy - a transitional economic phase – The focus here is on the physical factors and lowering costs to give way to a concentration on the Digital economy. This Digital economy requires a highly educated and skilled workforce; Research and Development; Intellectual property protection; Technology transfer; Venture and angel capital; and Commercialization. However focus still remains on competing for business attraction and expansion/retention to specific geographic areas.
- The emerging Creative Molecular Economy (CME)
A working definition of the Creative Molecular Economy is: An economy based on the integration of EMERGING TECHNOLOGIES, with CREATIVE individuals, small groups and companies organized in INTERLOCKING NETWORKS, connecting and disconnecting constantly in processes of CONTINUOUS INNOVATION.