Another problem is that it includes many unskilled workers who work in knowledge industries.
It is truly awe-inspiring the broad knowledge of industries some venture capitalists claim to possess-even knowledge of industries they admit they have never been involved in.
FORBES: Pensions Funds: Funding Unsavory Practices of Venture Capitalists (May 1, 2000)
Other communication, media and knowledge industries have had similar experiences.
Growth in knowledge-based industries requires investment in knowledge as well as in physical capital.
"Ultimately our future is going to lie in knowledge based industries and we've got to all get behind it, " he warned.
The third kind of knowledge infant industries lack is a trained workforce.
How do venture capitalists acquire knowledge of industries?
FORBES: Pensions Funds: Funding Unsavory Practices of Venture Capitalists (May 1, 2000)
This consulting experience gives him a knowledge of several industries and strong skills for analyzing investment opportunities.
In many cases such knowledge of mature industries poses no threat to infant industries, like how to make a Snuggie.
For the present the rise of knowledge-intensive global industries favours centres rich in infrastructure and specialised skills.
The challenge for the recently established devolved administration will be to manage the next phase of this evolution from an economy heavily dependent on traditional 'low value added' businesses, to one that will be increasingly reliant on knowledge based and services industries.
In industries where local knowledge is particularly important, such as retailing, cross-border partnerships still seem essential.
During those 18 months he says in addition to honing his executive business skills, he also learned the importance of absorbing the knowledge of professionals from various industries and areas of expertise.
As industries become more knowledge-based and more firms turn to open and user-led innovation models to keep a step ahead of disruptive innovators, governments will have to think more carefully about what, if anything, they can do to keep their economies competitive.
If you're not a security analyst or money manager with a broad knowledge base covering a range of industries, forget about annuals and concentrate on the proxy statement.
Mature industries versus infant industries have three types of knowledge that give them a competitive edge.
The information need not be inside, but members of Congress are well-positioned to conclude how legislation will impact industries based on entirely public knowledge.
Unlike most business owners who spend significant time in their industry and just focus on what they know, serial entrepreneurs are active in many industries and need to acquire knowledge about a variety of businesses and sectors.
Corporate plans: The Department of Labor, the agency charged with regulating corporate pensions, generally lacks knowledge of the money management and securities industries, has offered little meaningful guidance to corporate sponsors on these issues and has been even less effective in investigating wrongdoing and enforcing the laws.
Relevant knowledge of the highly skilled workers allows emerging industries to have a strong base.
They reason that younger industries need protection until they have developed the necessary knowledge and skills to compete.
Plus, the proportion of the super rich with fortunes made in oil and old-world industries will continue to shrink while those with fortunes from the knowledge economy will continue to grow.
The network facilitates the sharing of experience, knowledge and resources among the member cities as a means of promoting the development of local creative industries and fostering worldwide co-operation for sustainable urban development.
One of the world's most conspicuously successful centres of enterprise lies in that bit of California known as Silicon Valley: computing is today's knowledge-based industry par excellence (see survey) The new jobs in tomorrow's industries, in manufacturing and services alike, will call for more than button-pressing automatons.
We know from research, on industries as varied as semi-conductors and mutual funds, that they often take valuable knowledge with them and therefore enhance the performance of your rivals.
FORBES: Seeing your employees getting poached -- it's not all bad
Education is not my area, but a knowledge of economics and industrial structure is something that I encounter all the time in teaching in such fields as regulated industries and antitrust law.
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