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date: 09 April 2020

Abstract and Keywords

As new information and communication technologies and services (ICTS) are being applied ever more widely and intensively there is increasing evidence that the economies of technologically advanced countries are in the process of moving beyond the industrial capitalism of the twentieth century to information and communication based ‘knowledge economies’ for the twenty-first century. This transformation is exhibited not only by the rapid growth and development of new ICTS, but more importantly by their pervasive application throughout virtually all sectors of the economy. This article examines some of the generic developments and key characteristics of evolving twenty-first century new knowledge economies that are becoming evident, their implications for market development, and the important issues they are raising for government policy and regulation relating to market governance in the new economy.

Keywords: ICTS, new knowledge economies, twenty-first century, market development, government policy, market governance

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