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The Oxford Handbook of Information and Communication
Technologies
Chrisanthi Avgerou, Robin Mansell, Danny Quah, and Roger Silverstone
Print publication date: 2009
Print ISBN-13: 9780199548798
Published to Oxford Handbooks Online: Sep-09
DOI: 10.1093/oxfordhb/9780199548798.001.0001
Markets and policies in new knowledge economies
William H. Melody
DOI: 10.1093/oxfordhb/9780199548798.003.0003
Abstract and Keywords
As new information and communication technologies and services (ICTS)
are being applied ever more widely and intensively there is increasing
evidence that the economies of technologically advanced countries are in
the process of moving beyond the industrial capitalism of the twentieth
century to information and communication based ‘knowledge economies’
for the twenty-first century. This transformation is exhibited not only by the
rapid growth and development of new ICTS, but more importantly by their
pervasive application throughout virtually all sectors of the economy. This
article examines some of the generic developments and key characteristics
of evolving twenty-first century new knowledge economies that are
becoming evident, their implications for market development, and the
important issues they are raising for government policy and regulation
relating to market governance in the new economy.
ICTS, new knowledge economies, twenty-first century, market development, government
policy, market governance
1 Introduction
All economies are shaped significantly by the opportunities provided for
generating and communicating information. These activities are essential
for the development and sharing of knowledge, and for markets to function
at all. They have powerful influences over how and what knowledge is
developed, as well as the scope, efficiency, and limits of markets, and
Page 1 of 26 Markets and policies in new knowledge economies
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