Research: Politics, policy and the knowledge economy

Research summary

• January 2019 - Ongoing

This project examines the evolution of the “knowledge economy” over the last three decades – both as a concept invoked by politicians, policymakers and economists, and as an economic reality.

Since the early 1990s, economic policymakers in developed democracies have relied on the knowledge economy as a driver of inclusive growth.

The idea that the growth of knowledge-intensive sectors such as IT, advanced manufacturing, finance and pharmaceuticals could create well-paid jobs and achieve equality of opportunity on a societal scale has been a recurring feature of mainstream politics and policy.

The case for knowledge-driven growth is still made today, by those calling for a tech-propelled recovery from the COVID-19 pandemic.

This research explores:

• the role of knowledge-driven growth in the economic thinking and rhetoric of politicians, public officials and policy commentators in developed democracies since 1990

• the nature and impact of public policies constructed on the basis of this economic analysis

• the evolution of knowledge-intensive industries, including the emergence, regulation and taxation of internet platforms

• similarities and differences between developed democracies in terms of policy decisions and the development of their knowledge economies