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There is a growing understanding that knowledge is at the core of economic development. This is reflected in OECD-publications referring to the knowledge based economy (OECD 1996a; OECD 1996b; Foray and Lundvall, 1997). Here the authors prefer to define the present stage as a 'Learning economy'. Knowledge has always been at the core of economic development and it is not obvious that there has been a radical change in 'The amount of economically useful knowledge'. The useful stock of knowledge is not the sum of all knowledge that was ever created in the history of mankind. A lot of knowledge has been lost in a process of creative destruction.
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