Max Polyakov Views on the Development of the Economics of Knowledge

Dr. Max Polyakov: Let’s talk about economics, based on knowledge. High dollar exchange rate, increases in fuel prices and low wages are some of the most pressing issues for millions of people. Where are we headed? How can we solve these economic problems? Dr. Max Polyakov, considers the scientific approach and intellectual activities to be the driving force of progress.

You might ask, “What does science have to do with it?” The fact is that both knowledge and innovation affect quality of life.

Hundreds of studies on economic activity are conducted and published every year. More and more scientists are starting to investigate “the knowledge economy” or, in other words, a knowledge-based economy. Still, there is no holistic concept that would describe the importance of this science and its influence on the dynamics of the economy.

However, Dr. Max Polyakov is one of those who focuses on the key role of economic knowledge in building our future. Nowadays, we can not only consider, but also implement new trends in both management and production by developing manufacturing principles, capital structure, growth models, and other factors.

The main idea that is shared by the managing partner of Noosphere Ventures is connected to technological processes and implementing innovations to different economic sectors. When talking about the concepts of the economics of knowledge, Dr. Max Polyakov relies on the studies conducted by M. Chensova, T. Lukyanchikov, D. Lukyanenko, O. Lukyanenko, as well as the research of foreign scientists, including Joel Mokyr, Ruslan Grinberg and R. Delbridge. The deep analysis of dozens of studies along with his great experience opens numerous opportunities to use knowledge in economics in every social aspect of life. He also emphasizes that the world leading economists shouldn’t count on physical resources only, but the support the institutions that help develop the economics of knowledge and share their experience.

Due to the versatility of the issue, Dr. Max Polyakov describes a whole system of concepts and new laws in economy. He purports that knowledge should become a key production tool, and insists on implementing innovative technologies and improving the intellectual portions of each of the social processes. According to Dr. Max Polyakov, the main economic unit is the human being, whose motives, values and actions drive progress.

Can this approach become a new economic model? Sure. All in all, the equality problems, high level of human rights, social stability, economic freedom and the quality of life have always been the most important factors for the economic development of any nation. In other words, the knowledge economy is an instrument that will allow us to build a bright future, according to Dr. Max Polyakov.