The Innovation and Knowledge Hub: the Development of the Guanajuato Science and Technology Park

For the last two hundred years, neo-classical economics has recognized only two factors of\nproduction: labor and capital. This is started to change in the earlier nineties. In our days, information\nand knowledge are replacing capital and energy as the primary wealth-creating assets, just as the latter\ntwo replaced land and labor 200 years ago. Additionally, technological developments in the 20th\ncentury have transformed in the 21st century the majority of wealth-creating work from physicallybased\nto "knowledge-based". Technology and knowledge are now the key factors of production. We\nare now an information society in a knowledge economy where knowledge management is essential.\nFor countries in the vanguard of the world economy, the balance between knowledge and resources\nhas shifted so far towards the former that knowledge has become perhaps the most important factor\ndetermining the standard of living - more than land, than tools, than labour. Today's most\ntechnologically advanced economies are truly knowledge-based.