What Knowledge? A Review of the Literature

The 21st Century has been described by many economists and other scholars as a time when `knowledge` will be the most important resource in the economic development of countries and the ultimate welfare of their inhabitants. In other words, to thrive in this century, countries will need to develop `knowledge economies`. Researchers, economists, and politicians alike have very glowing things to say about the potential of knowledge in propelling countries (developed and developing alike) forward in the 21st century. Unfortunately, such glowing claims about the `knowledge economy` are not based upon a clear definition of what is meant by the term `knowledge`. The purpose of this paper is to question what knowledge and looking at the importance of generic competencies such as communication, critical thinking, and working in a global workplace.