TEHRAN (Bazaar) –Nader Entessar, Professor Emeritus of Political Science from university of South Alabama says that knowledge-based economy is an absolute prerequisite for growth and progress.
“A knowledge-based economy is a multiplier and plays a similar role that manufacturing played in economic development during the Industrial Revolution,” Entessar told Bazaar.
Following is the full text of the Bazaar interview with Professor Entessar:
Bazaar: What is the importance of a knowledge-based economy?
Entessar: A knowledge-based economy is an absolute prerequisite for growth and progress. A knowledge-based economy is a multiplier and plays a similar role that manufacturing played in economic development during the Industrial Revolution.
Bazaar: What is the role of a knowledge-based economy in job creation?
Entessar: As I stated in my previous answer, a knowledge-based economy has a multiplier effect and can indeed lead to job creation and benefit entrepreneurship and creativity.
Bazaar: Which countries have been successful in the field of the knowledge-based economy?
Entessar: The countries that have been successful in creating a knowledge-based economy are those that have invested heavily in scientific fields and have had the foresight to anticipate future trends. These countries include both traditional powers as well as emerging countries in Asia.
Bazaar: In economic production, knowledge-based production based on scientific advantages is important. What do you think countries like Iran should do to take this step?
Entessar: The country's economic mindset must change. The so-called “bazaari mentality” that for so long dominated and shaped Iran's economic activities is not only outdated but is counterproductive. Iranian universities and scientific centers must be significantly upgraded and much more emphasis must be placed on STEM (science, technology, engineering, and mathematics) fields. Although Iran's funding in these areas has increased in recent years, the country's financial commitment to basic scientific research and knowledge production remains abysmal. In general, knowledge production in STEM fields must be placed front and center in the country's intellectual activities, and this must go beyond simply paying lip service.
Bazaar: What is the importance of knowledge in the oil industry and what is the position of knowledge-based products in the oil market?
Entessar: The oil industry has been heavily dependent on Western technology in all aspects of its operation. A knowledge-based economy will afford Iran a degree of freedom that it has never enjoyed in this area and over time will help loosen Iran's dependence on foreign hold on the country's energy production and innovation.
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