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neilrich

Our Knowledge Economy, As A Nation We Lead The World!

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I work I the knowledge economy. I used to work in the real economy. Ultimately, it is people who work in the real economy who invents, makes, sells etc the widgets that pay my wages. And let me assure you, those widgets were not invented, manufactured, or on the whole sold etc in the UK. So really, what do I contribute to the UK economy, and how secure do you think my job is?

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What Gordon fails to realise is that the "knowledge" economy is highly mobile and have no intention of paying for his incompetence for the next few decades.

Will the last person to leave UK plc please turn the lights out. ;)

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I work I the knowledge economy. I used to work in the real economy. Ultimately, it is people who work in the real economy who invents, makes, sells etc the widgets that pay my wages. And let me assure you, those widgets were not invented, manufactured, or on the whole sold etc in the UK. So really, what do I contribute to the UK economy, and how secure do you think my job is?

Actually, to be fair, surely invention and marketing are parts of the knowledge economy?

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What happened to our knowledge economy? Thought we were leading the world, not heard Gordon mention this lately!! :lol:

Read Fantasy Island ,its on amazon,has a good bit about this old chesnut,or better put complete lie.

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Read Fantasy Island ,its on amazon,has a good bit about this old chesnut,or better put complete lie.

Haven't read it, but my view on the knowledge economy is that quite often other people find out the knowledge and then do it much cheaper.

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Last time this topic came up and I posted that I believed we were actually amongst the best in the world at innovation etc I got accused of being like Sibley.

The fact is there are many companies in the town I live in that are entirely "knowledge based" and simply invent stuff which they then license to companies (99% overseas) who then manufacture the products. I don't see this as a problem, others do.

In terms of things like genetic research and antibody technology we are world leaders with royalties that will keep rolling in long after other countries have dug up all their natural resources and sold them on.

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Last time this topic came up and I posted that I believed we were actually amongst the best in the world at innovation etc I got accused of being like Sibley.

The fact is there are many companies in the town I live in that are entirely "knowledge based" and simply invent stuff which they then license to companies (99% overseas) who then manufacture the products. I don't see this as a problem, others do.

In terms of things like genetic research and antibody technology we are world leaders with royalties that will keep rolling in long after other countries have dug up all their natural resources and sold them on.

That's as maybe, but how will those companies be able to keep 8 million unemployed in Sky TV?

The point being, is it enough?

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In terms of things like genetic research and antibody technology we are world leaders with

But research is going on all round the world - whoever makes the next big breakthrough will become the leader.

Edited by blankster

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The issue is that people below a certain level of inteliigence can not be part of the knowledge based economy. We are very good at certain things. Formula one car design which rubs off on to general car design as well. Building carbon fibre wings for planes (something the Yanks can not get right with the 777), Jet Engines, etc.

The issue is that we have a large section of the population that can not be part of the knowledge economy and do not want to flip burgers.

I believe the Labour govt knew this hence the mass of people lost on benefits, it was their way of keeping them quiet and stopping them rioting. Pay them enough on benefits so they can live (just), smoke, get drunk and shag.

Hence when we needed some more knowledge workers we imported 500K from eastern europe who all seemed to get jobs no problem.

The days of semi intelligent people with brawn earning a decent wage i.e mining, semi skilled manufacturing or construction are long gone hence the Knowledge based economy leaves these people on benefits.

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What happened to our knowledge economy? Thought we were leading the world, not heard Gordon mention this lately!! :lol:

It's globalised. My employer is in California (have a teleconference with my team in an hour). When I was self-employed, the majority of my revenue came from US companies. But I'm competing with Indians and others with much lower living costs.

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That's as maybe, but how will those companies be able to keep 8 million unemployed in Sky TV?

The point being, is it enough?

+1

As I pointed out here in my 'youth', anecdote, adults in my extended family: Retired:5; Work for the gubbermint in some way: 5; 'Students': 2; Able bodied, working age, not economically active: 2; Supporting the other 14 by being economically active in the private sector: 2.

I'm already at full stretch ;)

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That's as maybe, but how will those companies be able to keep 8 million unemployed in Sky TV?

The point being, is it enough?

Yes that is the point.There is no doubt we have amazing companies,from Rolls-Royce engines to drug companies.The welfare state however since the war has dragged then down.They are supporting to much social engineering.

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But research is going on all round the world - whoever makes the next big breakthrough will become the leader.

True but it is more likely to come from here than elsewhere as a lot of the best foreign scientists come to the UK to do their research and we are seen as specialists in this area. In my wife's lab only around 30% of the scientific staff are British born but they are all UK taxpayers and any discoveries made by them are owned by the research institute.

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I work for a company that has built the largest private research facility in Europe in the UK. i worked in research there, and it is the dog's, simply amazing. At this place three blockbuster drugs have been discovered in the past decade, and a host of smaller sub billion dollar a year drugs. Per amount invested and per researcher the UK discoveries outperform any other research facility in the world.

I am proud of the drug I sell, it saves lives.

Doesn't change the fact this country is ******ed and if things go as bad some here believe we won't be able to afford the drugs we discovered on these shores!

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What Gordon fails to realise is that the "knowledge" economy is highly mobile and have no intention of paying for his incompetence for the next few decades.

Will the last person to leave UK plc please turn the lights out. ;)

I work in the knowledge economy and I go where the knowledge economy needs me which at the moment is Germany but last year was Dubai and the year before that was Salzburg. Hmmm I have not worked in the UK since 1998 :blink:

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The days of semi intelligent people with brawn earning a decent wage i.e mining, semi skilled manufacturing or construction are long gone hence the Knowledge based economy leaves these people on benefits.

Not sure that, historically this is correct. Semi intelligent people with brawn COULD have become carpenters, electricians and plumbers, all of whom can earn decent wages, problem was that in the bubble economy there were "nicer" jobs out there that paid more (EA's, bankers), so they chose to do them instead. Now the chickens are coming home to roost these semi intelligent people are finding that these banking/EA etc. skills are no longer needed and as the building trade is in meltdown those jobs are disappearing too. Oh dear.

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The days of semi intelligent people with brawn earning a decent wage i.e mining, semi skilled manufacturing or construction are long gone hence the Knowledge based economy leaves these people on benefits.

Their jobs went overseas- whats to stop the same thing happening to the knowlege based ones?

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What happened to our knowledge economy? Thought we were leading the world, not heard Gordon mention this lately!! :lol:

It wasn't fair, we realised too many of all the bright hardworking students had spoilt things by avoiding the natural order and cheating the system by clandestine study, not nearly enough from Labour marginals, so we appointed Ed Balls and he's sorted out the problem.

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The UK economy must be driven by innovators, designers and the like. But there will always be a need for skilled manual, semi-skilled and unskilled. Even scientists have hair that needs cutting. ;) (OK, maybe some don't.)

The decent thing is then not to let a load of unskilled foreigners in to take the unskilled jobs that our own gammas and deltas need. It's also in our interest because we'll be the ones forking out the dole money for the people who could be plumbers if it weren't for the Poles etc.

That's nationalism btw.

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Not sure that, historically this is correct. Semi intelligent people with brawn COULD have become carpenters, electricians and plumbers, all of whom can earn decent wages, problem was that in the bubble economy there were "nicer" jobs out there that paid more (EA's, bankers), so they chose to do them instead. Now the chickens are coming home to roost these semi intelligent people are finding that these banking/EA etc. skills are no longer needed and as the building trade is in meltdown those jobs are disappearing too. Oh dear.

A friend of mine went into plumbing a few years back because the pay was good, however I can see massive wage deflation in this profession because a lot of people have jumped onto the bandwagon for the same reason, which will result in a massive oversupply of plumbers now the building trade has collapsed. Although he thinks he's somehow immune from redundancy because he works for a Housing association.

Edited by Lander

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Not sure that, historically this is correct. Semi intelligent people with brawn COULD have become carpenters, electricians and plumbers, all of whom can earn decent wages, problem was that in the bubble economy there were "nicer" jobs out there that paid more (EA's, bankers), so they chose to do them instead. Now the chickens are coming home to roost these semi intelligent people are finding that these banking/EA etc. skills are no longer needed and as the building trade is in meltdown those jobs are disappearing too. Oh dear.

But you're talking about skilled trades - the upper working/lower middle classes. Nothing wrong with that. What's changed is that people of low intelligence in the past were able to earn a living through muscular work, and that's all gone, so we have a class of people who are essentially unemployable. If the market were left to its own devices, such people might have gradually died out, emigrated etc. The welfare state, however, enabled this group to perpetuate itself prolifically and to grow exponentially.

I don't believe the welfare state was ever intended to be used as a 'danegeld' in this way - I think it came about because the system's administrators still view it in terms of 1940s society, and their political masters realise it is expedient to continue thus. When I studied social policy at uni in the early 1990s for example, even then the idea of welfare dependency and the perpetuation of an underclass just wasn't countenanced. It was basically anathema.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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