value the life blood of capitalism
Post on 22-Apr-2015
1.843 Views
Preview:
DESCRIPTION
TRANSCRIPT
Value-The life Blood of Capitalism: Knowledge is the current key
Ruth RikowskiUniversity of Greenwich, London, UK. (2000)
Present by: Efrain Rivera
At these present times, we are witnesses of a new phase of modern economics, it is knowledge revolution. The success for this knowledge revolution is base on the creation of value, that is extracted from knowledge.
Rikowski (2000) argues that capitalism goes through different phases, the Agrarian Revolution, the Industrial Revolution, and now Knowledge Revolution .
Capitalism and modern economics are essentially dependent on value. This is the current phase of capitalism and it is link with the success of knowledge, on how is used, applied and validated.
Gilder (1989) disputes that the states of the basic tenet of knowledge revolution will be the “overthrow of matter.” Wealth, in the form of physical assets will diminish, while wealth, in the form of knowledge assets will increase. The power of mind will usurp the brute force of things .
Value-The life Blood of Capitalism :Knowledge is the current key Introduction
Jeremy Rifkin (2000) indicates that the industrial age emphasized the exchange of goods and services, the coming age will emphasize the exchange of concepts.
Knowledge revolution is determining the way the game is play in moderns economics. The success of industries in this latest phase of capitalism depend on the way of transition into this knowledge revolution and into their key components .
Knowledge revolution is the early phase of a major economic revolution.
This revolution is supported around the concept of a post-industrial era, where productivity base on making things is increasingly automated and routine; creating things is difficult and value therefore derives from creation and from the intellectual capital or knowledge base of the firm or nation (Potter, 1999).
Value-The life Blood of Capitalism :Knowledge is the current key
Knowledge Revolution
Knowledge Revolution is being shape
Value Platform
Global Capitalism
Value creation through
Knowledge
Value
Philosophic method
ground in knowledge
Economics
knowledge Manageme
nt
Modern economics is based on thin air and that most of us make our money from the air; we produce nothing that can be weighed, touched or easily measured.
(Leadbeater,1999)
Value-The life Blood of Capitalism :Knowledge is the current key
The key components of the Knowledge Revolution
Why is call knowledge management ?
Is base on value, that needs to be extracted from knowledge in today’s economy and so knowledge itself is crucial.
McFarlane (1998) identify knowledge as special sets of beliefs which integrated abstractions from our experience into a capacity for effective action.
Why is relevant a philosophic definition of knowledge management?
Critics don't understand, why is crucial to use concept like “epistemology” , describe by Oxford English Dictionary (1998) as a theory or science that studies the methods grounds on knowledge. They see the management of knowledge as a consumption of concepts, beliefs, and experiences which are “people management” not a philosophic or science method.
Rikowski (2000) argues that the terms recommended by the critics, “people management” is incorrect when taking about knowledge management, because that is incline to a human resources concept not knowledge management
concepts.
Value-The life Blood of Capitalism :Knowledge is the current key Knowledge Management
Knowledge management primary concern is to ensure business success , one step to secure this is by separating the concepts of knowledge management from information management .
Knowledge information is the process gathering data / Knowledge management is understanding and interpreting data.
Value-The life Blood of Capitalism :Knowledge is the current key Knowledge Management vs. Information Management
Information Managemen
t
Knowledge Managemen
t
The meaning of value?
The business module of value is examined by the production of good, service and products of consumption; engaging in the creation of value.
Tapscott (2000) says that innovation drives everything, competition and investments, but this is only possible by the creation of new ways of value.
In today global economics, capitalism, use value by transforming commodities into the marketplace (ex. Production of Metals), then commodities are exchange for value.
Marx & Value
Marx (1848) understood that value in all of it dimension, surplus, exchange, adding and value it self is define by labor.
Labor explore value, by creating a multifaceted, multidimensional concept of value that is only created through the power of labor.
Value-The life Blood of Capitalism :Knowledge is the current key Value
Value-The life Blood of Capitalism :Knowledge is the current key Marx on Value
Marx saw commodities in two forms: Physical-Form / Value-Form
Physical
form
Material
s
Physical nature
Substance &
components
Iron, plastic, wood
Value form
Specific creation
of products
Feeds perpetu
ates capitali
sm
Used & validati
onHuman Labor
Marx transfer commodities into value:
Value-The life Blood of Capitalism :Knowledge is the current key Marx on Value
Use of Value Exchange of Value
Use Exchange of Commodities
Utility Exchange of Supplies
Consumption True Expression of Commodities
Knowledge is the essential ingredient for creating value in the global capitalism system.
Value and wealth derive from the process of creating, not making things (Potter, 1999).
This is the model of Dzinkowski (2000) to comprehend the creation of value.This is knowledge capital (human knowledge)when is transfer into structural capital (companies-structure capital).
Value-The life Blood of Capitalism :Knowledge is the current key Value creation through Knowledge
Human Capital
Organizational Capital
Costumer Capital
Intellectual
Capital
As the industrialized world today enters into a knowledge revolution, value is now being created from knowledge. The knowledge revolution is the latest phase of capitalism, which life system is value.
A series of concerns come into consideration: What are the consequences if knowledge relative concepts are not
carefully examined? In this revolution of knowledge , today, the extraction of knowledge is
one of the main focus, What will be the next phase of extraction… emotion, convictions, belief, or imagination?
Rikowski (2000) believes that hopes lies in bringing about a new form of capitalism, one that will start a different world; a kinder, better, fairer world; a world beyond.
Value-The life Blood of Capitalism :Knowledge is the current key Value is the Life-Blood of Capitalism
Conclusion / Questions
Let us look towards the future, a social-future, certainly, and ultimately, in the direction of a global common society, that is based on human need and self-expression! (Rikowski,2001)
Thank you for your time!!!!
Value-The life Blood of Capitalism :Knowledge is the current key Value is the Life-Blood of Capitalism
Mougayar, Walid (2000) Aggregation nation: a nontrivial pursuit: turning information into electronic markets, Business 2.0, March, pp. 253-258
Neary, Michael and Rikowski, Glenn (2002) Time and speed in the social universe of capital, in G. Crow and S. Heath (eds.) Social conceptions of time: structure and process in work and everyday life. London: Palgrave
Potter, David (1999) Wealth creation in the knowledge economy of the next millennium . Third Millennium Lecture, Downing Street, 27 May. Available at: www.number-10.gov.uk/textsite/news/features_display.asp?id=665
Rikowski, Glenn (2002) Fuel for the living fire: labor-power!, in Dinerstein, Ana C. and Neary, Michael (eds.) The labor debate: an investigation into the theory and reality of capitalist work, Aldershot: Ashgate
Rikowski, Ruth (2003) Value theory and value creation through knowledge in the knowledge revolution . Dissertation submitted to the University of Greenwich, in partial fulfillment for the degree of MA by Research in Business
Rikowski, Ruth (2004) On the impossibility of determining the length of the working-day for intellectual labor, Information for Social Change, Summer, No. 19. Available at: http://www.libr.org/ISC
Rikowski, Ruth (2005) Globalization, Information and Libraries: The Implications of the World Trade Organization's GATS and TRIPS Agreements, Chandos Publishers: Oxford
Seybold, Patricia B. (2000) Ubiquity breeds wealth: give it away. Build buzz. Reap the rewards, Business 2.0, March, pp. 241-248
Smith, Adam (1776) The wealth of nations (Books 1-111) London: Penguin Tapscott, Don (2000) Minds over matter: the new economy is based on brains, not brawn. The only
thing that counts is smarts, Business 2.0, March, pp.220-227 Welch, Rob (2000) Knowledge management in a deconstructing economy, Knowledge Management ,
May, p.10
Reference:
top related