Knowledge Capitalism: Business, Work, and Learning in the New Economy Book

Western economies have never been more prosperous yet at the same time there is a growing sense of unease-- a feeling of insecurity at the downsized, rapidly changing economic environment we face both corporately and as individuals.The thesis of Knowledge Capitalism is that among the many profound changes currently occurring, the changing role of knowledge is by far the most significant. "Knowledge is fast becoming the most important form of global capital. Paradoxically, it is the least understood and most undervalued of all our economic resources", argues author Alan Burton-Jones. The central theme of the book is the nature and value of knowledge and how it is fundamentally altering the basis of economic activity. As a consequence, we need to "reappraise many of our industrial era notions of business organisation, business ownership, work arrangements, business strategy and the links between learning and work."And that is exactly what the book does. Marshalling an exhaustive array of detailed evidence the author describes the fundamental shifts that are occurring and how they will reshape the firm. He presents empirical evidence of a link between firms' decisions to use outside resources and what he calls "the knowledge characteristics" of the work involved. The book looks at the implication of outsourced knowledge on various stakeholders and discusses at some length the "knowledge characteristics" of work likely to be retained within the firm. It then examines the resulting changes in relationships between the corporation and its stakeholders. In the final section Burton-Jones looks at how demand for an increasingly skilled work force will necessitate a move to life-long learning.Burton-Jones is former Business development director for British Oxygen and now heads an IT consultancy in Australia. His intended audience includes firm owners interested in the strategic implications of the knowledge economy; individuals concerned about their personal career prospects; plus students, educators and others interested in the "changing links between education, learning and work." There is much here to recommend it to such a broad readership, though the detail and thoroughness of its research suggest that actually this is one for the specialists--planners, both corporate and government, and those linked with developing strategic responses to the emerging knowledge economy. --Alex BenadyRead More