Teknonomy

Teknonomy is a portmanteau term that describes the economic system driven by technology. It encompasses the production, distribution, and consumption of goods and services heavily influenced by technological advancements. This concept highlights how innovation, automation, and digital platforms reshape traditional economic structures and create new industries and labor markets.

The core of teknonomy lies in the rapid evolution and adoption of new technologies. This includes areas like artificial intelligence, big data, biotechnology, nanotechnology, and renewable energy. These technologies not only improve efficiency and productivity in existing sectors but also give rise to entirely new economic activities and business models. For instance, the rise of e-commerce and the sharing economy are direct manifestations of teknonomy.

Key characteristics of teknonomy include a focus on intangible assets like intellectual property and data, a growing importance of digital infrastructure, and a shift towards a more globalized and interconnected marketplace. It also raises questions about income inequality, the future of work, and the need for continuous adaptation by individuals and institutions to remain competitive. Understanding teknonomy is crucial for navigating the economic landscape of the 21st century.