The crux of the label we use to describe an economic paradigm is that it usually points to the main driver of value: industrial, agrarian, etc. For the last few decades, we’ve tried several ways to describe the current economic paradigm. Two of the most prominent terms that still find use in the daily commentary of pundits are “knowledge economy” and “information economy” — and they’re used almost interchangeably.
What’s odd is that the two terms have completely different meanings. Read more