Linked with Harvey B. Feigenbaum – USA.

Published on Cultural, Harvey B. Feigenbaum, 29 pages, not dated.

excerpt page 16 ff: … CULTURE AND THE NEW ECONOMY:

The much-heralded “New Economy” is more than just a recently deflated stock-market bubble. The term describes a fundamental shift in economic activity from repetitive mass production requiring modest skills to the modern work environment where intellectual and creative judgments are primary. The New Economy is knowledge-based, and knowledge is acquired through institutions that are shaped by culture.

Not the least of these is the educational system, especially universities. In the United States, public funding has been nowhere more effective than in the promotion of higher education and research. Connecting universities with the world expands their knowledge base and improves the quality of research. This is often accomplished through what are, in effect, public-private partnerships.

Encouraging international exchange of scholars and university students under the auspices of the Fulbright program should continue. So should the facilitation through the tax code of the funding of university exchanges …

… The “Creative Economy” (as Venturelli calls it) has another set of issues concerning intellectual property laws and practices. “The nation that can accurately balance ‘fair use’ with property rights in expression will experience unforeseen and unpredictable spurts in the growth of creative ideas, placing it at a competitive advantage in the Information Society.”9 She also argues that the finan-cing of creative enterprises may need to move from mechanisms available only to the few (e.g., bank loans, venture capital investments, IPOs) to mechanisms available to the many (e.g., micro credits and loans), encouraging a wide variety of entre p reneurs from which a few winners will emerge. Finally, Venturelli urges policy frameworks that discourage knowledge monopolies.

On this issue of monopoly, it needs to be noted that copyrights and patents are crucial to the encouragement of innovation. At the same time, some thought needs to be given to our current concepts, laws and regulations involving intellectual property. While new knowledge can lead to more new knowledge, encouraging the production and distribution of ideas may require a greater attention to “fair use,” in contradistinction to immediate property benefits … (full text).

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