ABSTRACT
In recent years, students of social and economic development have often been preoccupied with concepts such as ‘the new economy’, ‘the learning economy’, ‘knowledge economy’ and ‘smart economy’. The idea of these various new economies is usually presented as if they were part of an inevitable development. It is presumed that new technology and globalisation unavoidably leads to a transformation of societies and politics, adapting them to the ‘new economy’. It is assumed that countries which are not quick enough to adjust to the ‘new times’ will turn out as losers in the competition to achieve new investments and new enterprises. Hence, they will fail in the race for ever increasing economic welfare.
