A knowledge economy still produces goods and services, although by the important use of knowledge. Therefore, economic models are relevant to understanding how a knowledge economy should properly work, particularly the financial system in a knowledge economy. When finance fails, all knowledge...

A layered financial structure is the key institutional feature of the financial subsystem of a knowledge economy. The concept was introduced by Irving Minsky and has been proven the empirical key in understanding bank panics, such as the global financial crisis of 2007–2008. However, even...

The problem of proper control in society is a complicated issue. It is complicated by the fact that three different types of control exist in a society: control in socio-technical systems, control in managed systems, and control in self-organizing systems. We apply the theory of societal...

The theoretical concepts of a national innovation system and of a quadruple helix of interactions within a system have been used to characterize American and European successes in transforming knowledge to utility—through research and development and entrepreneurship and new ventures. In this...