On March 29, 1993 Lloyd Atkinson of the Bank of Montreal gave a presentation to the Atlantic Association of Applied Economists. It is his option that we are currently in an era similar to the Industrial Revolution circa 1800. Significant economic and social changes are, and will be taking place. In his opinion, the Communications Industry (knowledge based) is a key to our success.
Nuala Beck points out in her book, Shifting Gears, that there are new economic realities to be considered. Sectors of the economy that were the "engines of growth" are no longer strategic. Old economy industries (cars, steel, petroleum, housing) have been replaced by knowledge-based industries (computers, medical care, communications, instrumentation). These new strategic industries exhibit high growth, and are powerful enough to induce growth in other sectors .
In the following chapters a preliminary study of knowledge-based industries in Nova Scotia is presented. Overall results are encouraging but also show that we require a closer look at what is happening.
In the next chapter, the concepts of knowledge-based are defined. Measures of knowledge that were used in the analysis are presented.
This is followed by two chapters that apply the concept of knowledge ratios to the Nova Scotia economy.
A chapter on methodology is presented because of the preliminary nature of the data. One of the objectives of this study is to stimulate further study by pointing out areas of concern, with respect to data quality. This includes the development of a Nova Scotia Knowledge Worker Ratios table and a more precise definition of Knowledge Worker, Knowledge Industry.
The final chapter summarizes our findings.
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