A new innovation economy is emerging from the ashes of the global crisis, turning the age-old practice of economic development upside down and challenging international organizations and regions to embrace an adapt-or-perish strategy in the face of new economic realities.
In this brave new world, knowledge is king, and by
extension, universities, and their like, are becoming central players
in an emerging, global revitalization network. Innovation is the new
currency of commerce
Called a "new paradigm" by some, this new economic order also celebrates geographic location as a center of both knowledge and connectedness.
The latter is is a very different algorithm from the sum-of-all-incentives equation that has driven economic development decisions for decades, if not centuries, observers note.
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Author: The Next Silicon Valley
