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Learning Journal

Knowledge and Information

20th June 2018

Accumulation of knowledge can be regarded as the economics of ideas, and the collection of information can be an important process of idea evaluation. We learned the theory of value in the lectures and the recommended readings. It consists of all the theories with the points of economics that attempt to explain the exchange value or price of goods and services. We have learned new growth theory from the lecture. The argument of the significance of the technology in economic processes is interesting. The roles that information and knowledge play in ideation and value creation are changing the competition: something new arises, and the old system will be replaced. As a designer, we should not neglect the technological improvements, since it may lead the industries revolutions. The updates of technology will inspire us, at the same time, we can make some assumptions about future trends according to the information. Also, it is interesting when we consider knowledge and information as our offerings, the products or services. For example, the platform which allows people to share videos is getting popular. The online tutorial platform and the live streaming videos platform have a large number of audiences than cinemas do. What these platforms provided is a new form of intangible value.

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