In Trading Ideas and Knowledge, a new paper published today by The Work Foundation, Ian Brinkley argues that knowledge services “in essence selling specialised brainpower" - is the one category of economic activity in which the UK appears to be leading the rest of the world.
Analysing official trade figures (from the government's 'Pink Book'), the paper finds that in 2005, the UK exported about £75 billion worth of 'knowledge services' up from £28 billion in 1995, a rise of 170 per cent "and now worth some 6.3 per cent of GDP. This represents a quarter of all UK exports “significantly more than any other major economy.
'Knowledge services' spans a wide variety of industries and activities that all rely on ideas, including computing electronic publishing, software and gaming, the creative and cultural industries, such as television and media and the audio-visual industry.
It calls for government policy in support of further trade liberalisation, especially in Europe; further investment in human capital, especially higher education; ensuring the attractiveness of the UK as a location for research and development and science; and, where appropriate, specific industry policies, such as in aid of the creative and cultural industries (a green paper is currently forthcoming).
Read more at The Work Foundation website
Tags: Computing, Creative, Industry, media, Research
