Part 3: Social Market Economy – Innovations are a must for delivering economic prosperity
Monday, 28 September 2015
Monday, 28 September 2015
Need for modelling growth on knowledge
As pointed out in the previous two parts, Social Market Economy to be set up in Sri Lanka has been qualified by two attributes by its proponents. It is to be ‘knowledge-based’ and it is to be ‘competitive’.
‘Knowledge-based’ means that the economy will be dependent on ‘the quantity, quality and accessibility of information available instead of traditional means of production’ that are normally used for economic activities.
As pointed out in the previous two parts, Social Market Economy to be set up in Sri Lanka has been qualified by two attributes by its proponents. It is to be ‘knowledge-based’ and it is to be ‘competitive’.‘Knowledge-based’ means that the economy will be dependent on ‘the quantity, quality and accessibility of information available instead of traditional means of production’ that are normally used for economic activities.
