Knowledge-based economy and its significance for the development of a new dimension to socio-economic space

We can observed now shaping a new economy based on the assumption that knowledge is transformed into stymulator of social and economic development on a scale till now unknown. Globalization is considered as one of the main reason for the new economy, where services begin to dominate, and significant investments in intangible factors of production can be seen. The new paradigm of management has meant that space becomes an essential element of economic development analysis. Conversion of comparative advantage to competitive advantage resulting in a more productive use of specific combinations of resources concentrated in a particular location