Abstract
Knowledge does matter: but the question is when, how, and why? Moreover, with the advancement of economies and societies, knowledge matters even more and in ways that are not always predictable or even controllable (e.g., see the concepts of strategic knowledge serendipity and strategic knowledge arbitrage in Carayannis et al. 2003). The successful performance of the developed and the developing economies, societies, and democracies increasingly depends on knowledge. One branch of knowledge develops along R&D (research and experimental development), S&T (science and technology), and innovation.
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