The Nation State and Knowledge Capital

Abstract

This chapter analyses how a Nation State can contribute to enhanced wellbeing. It begins with its responsibility to act on behalf of citizens as wise custodian of the market economy and welfare state within its borders. This requires central government to adopt an integrated and balanced approach to all its economic and welfare policies. The second half of the chapter focuses on the concept of knowledge capital as a driver of wellbeing. Knowledge creation can be an economic public good, which creates a distinctive opportunity for a well-functioning state to contribute to expanded capabilities for wellbeing through policies that foster the growth and use of knowledge. Knowledge is essential to the operations of the Nation State, whose civil service can offer a specialist capability for creating, collating, synthesising, utilising and disseminating knowledge capital for the common good.