Primary Institutional Characteristics in The Knowledge Economy

In the knowledge economy,the asset sharing system is undergoing significant changes because knowledge has become the single most important production factor in place of capital.For the purpose to enhance efficiency companies attach importance to the role of human resources and adopt equity as part of employee payment;such kind of incentive scheme lead to fairer ownership structure.Furthermore,along with the increase demand for knowledge consumption,the unity between efficiency and fairness will be of comprehensively social significance.At the same time,capital hires labor is not the sole effective pattern of the organization of firms;instead,as another effective pattern,labor hires capital exists and plays an important role.We should pay more attention to the study of knowledge consumption.Today,material in many commodities has been reduced to a carrier of knowledge.It is presumed that in the future,the norm for evaluating human life quality will no longer be Engel's coefficient,but the coefficient of knowledge consumption.As the development of knowledge economy will solve a series of problems in the current economic growth and lead to social progress thereby,it is imperative to view the knowledge economic index as the directive target of a region's development.