Knowledge Is The New Currency
posted by Michael Olafusi , on ,
Facebook began a project called internet.org aimed at making everyone, especially those in third world countries, have access to the internet. Their main claim is that the future of the world economy is a knowledge economy, and internet will be its backbone.
This week The Economist did a special report on how it is becoming increasingly hard for the rags to riches story that characterized the lives of the men who built America to be replicated now. You can read it here: America’s new aristocracy. And its main point is knowledge is now playing a bigger than ever role in the path to wealth. The real asset is now intellectual capital. Knowledge is the new currency. Gone are the days when you could acquire wealth by being very hardworking, regardless of your educational background. Nowadays, if you are not lucky to have a parent who value education and are rich enough to start you bright and early, you have an extremely slim chance of working your way to wealth.
Globally, we now live in a knowledge economy. What you know now matters extremely more than what you do with your hands. Wealth and power is increasingly shifting into the hands of the geeks, the entrepreneurial professors and the eggheads. People who use only their heads.
As usual, Nigeria is still not reflective of global happenings. We are always slow to catch up. It was decades after the world began using ATMs that we caught up. Same with mobile phones. We are always late to the party. We may still have people who do not value knowledge dominating our economy for some time, but it won't be for long. As the world becomes smaller and closer through globalization, the new currency of knowledge will soon become widely accepted in Nigeria and those short of it will lose a lot.