? Introducing the ‘innovation paradox’ as the main challenge to the West and the notion of ‘knowledge democracy’ as key to … Democracy, Innovation and Economic Efficiency -- Chapter 5: Knowledge Democracy as Key to the Twenty-First Century …). It is a vital reading for all those questioning what kind of democracy positively impacts innovation as the force whose …

between two activities: producing goods with the production-related knowledge they already have, and interacting with others … and its rate of learning and real growth. Individuals' time allocation decisions depend on the knowledge distribution … time allocations of everyone in the economy in turn determine the evolution of its knowledge distribution. We construct the …