" If I had studied economics I would have been taught that the factors of production are land, labour and capital. ``Knowledge'' doesn't appear. Today, knowledge not only must appear in that list, it dominates the others. If you have the right knowledge at the right place at the right time, that means less labour, less energy, less capital, less raw materials and less time. All the other inputs of economic production for the conversion of natural elements into what we call wealth can be done far more effectively and efficiently through the application of knowledge."
http://www.sociosite.net/
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