Economists have a phrase to describe a sloppy theory that it is ?not even good enough to be wrong? - Matthew Taylor http://www.matthewtaylorsblog.com/public-policy/the-big-society-news-fr…
Economic theory has a problem with knowledge: it seems to defy the basic economic principle of scarcity... the more you use it and pass it on, the more it proliferates... infinitely expansible... What is scarce in the new economy is the ability to understand and use knowledge - The Economist, 28 September 1996
Colleges don't teach economics properly. Unfortunately we learn little from the experience of the past. An economist must know, besides his subject, ethics, logic, philosophy, the humanities, and sociology, in fact everything that is part of how we live and react to one another - Bernard Baruch (U.S. businessman and statesman, 1870-1965)
PwC's World in 2050 report examined, inter alia:
The Work Foundation's Knowledge Economy Strategy 2020 argues that the UK (and by definition, similar economies) face three immense and closely related economic and social tasks