Knowledge-based economy: what it is and what does it means: fifteen executive-level people representing a cross-section of industry and academic perspectives participated in this Executive Forum on knowledge-based economy.

• Position: Digest of the proceedings: UAA-ABM Executive Forum Sept 22, 2004

(The concept of an Executive Forum stemmed from the UAA College of Business and Public Policy Business Policy Advisory Council. The quarterly events bring together leaders from business and academia in discussions of topics of contemporary interest and in which the university can offer its input to business leaders on such policy matters and at the same time provides business an opportunity to inform professors on points of importance to them. Last year, forum topics examined ethics in business, developing entrepreneurs and economic development in rural Alaska. This year and next, the Executive Forums will focus on the knowledge-based economy.)

A Knowledge-Based Economy: What is it and what does it mean for Alaska?

The College of Business and Public Policy, in partnership with its Business Policy Advisory Council and Alaska Business Monthly, renews the Executive Forum project this year with a focus on the knowledge economy. Fifteen executive-level people representing a cross-section of industry and academic perspectives participated in this Executive Forum held at the ACS corporate headquarters on Sept. 22, 2004.

* Vern McCorkle: In our traditional capitalist economy, a knowledge-based economy stands in sharp contrast to long-established economic theory because it relies upon innovation and intellectual capital rather than hard goods to generate economic value. Since the early 1990s, Peter Drucker's work defined an economy based on intangible goods and intellectual capital as an economic driver. This Executive Forum focused on how this may be achieved, or if it should be achieved, and what it means to Alaska.

* Dean Tom Case: The history of Alaska has been based on resource extraction and development, but elements of knowledge have been part of this economy since the beginning. The special expertise needed to function in the Arctic has distinguished Alaska as a knowledge-intensive enterprise, although this aspect of our economy has not always been explicitly recognized. We examine in this Executive Forum some ways to shift the balance between resource-based and knowledge-based initiatives.

* Dr. Lee Huskey: Emergence of mind power, human intellectual capital, can expand beyond resource limited economics. Take, for example, the concept of a "silicon tundra" based on quality of life as a backdrop. The computer and electronics industries are rather footloose compared to traditional industries. But scale is an important attractor. Silicon industries like to cluster near each other to share ideas, pool labor and infrastructure. We need to build out from the resource economy. Quality of life is important, but not as significant as the scale of the cluster of industries.

* Nancy Bear Usera: The quality of life in Alaska is still dependent on the flow of government dollars, and the ultimate source is still oil. We can't lose sight of how we are going to pay for the basic functions of society with such a small population. The knowledge industry has made it possible to function in Alaska by...