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The upshot is that in many knowledge businesses the employees often do better than the shareholders.
Communities bound together by a love of education and inquiry, whether it's the first faltering steps in reading or cutting-edge research, must be re-engineered as fiercely managed "knowledge businesses".
With modern technology, knowledge workers and knowledge businesses can escape urban congestion and the high cost of living by moving to the open spaces.
The negative externalities generated by excess traffic cancel out the accessibility benefits of highway proximity on Hong Kong Island, where densely built-up office districts are suited for amenity-sensitive knowledge businesses that tend to create value-added services through face-to-face communications.
David Stevens of Admiral Insurance and the Cardiff Business Partnership said: "This is the part of the region that must attract and nurture the high value knowledge businesses that are common in successful city regions across the world, but are currently under-represented in Cardiff.
Similar(55)
When I asked what business he was in, he answered: "We're in the knowledge business.
But we're also an intense knowledge business, with complex systems that include marketing, finance, engineering and I.T.
If you have a knowledge business and you get trouble, you can move it one hour north to Helsinki".
But the online, for-profit universities whose dominance he predicts will be not in the education business or the knowledge business: they will be in the business business.
He praises the BLitt system, as opposed to working for a PhD, "because it cuts free of that 'making an original contribution to knowledge' business.
Universities are in the people and knowledge business.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com