Knowledge economy changes in the perception of investment nature in agriculture

Abstract

The specific nature of the so called knowledge economy, the innovation economy, determines a number of new trends that in a very recent past might have seemed fantastic. The article is devoted to the discussion of the nature of investment in the modern economy, including the agricultural sector, one of the main factors of production in which, along with traditional factors, is knowledge. Today it is common to face a situation where their use multiplies the end result of entrepreneurial activity much more efficiently than the use of such traditional factors of production as land, labor and capital. Among the most popular and promising trends in agriculture in the United States and Europe, experts recently point out the introduction of high-tech innovative technologies that require the active attraction of investments related to intellectual and human capital. The authors consider such investments as a special type, significantly different from their classical Keynesian interpretation, which is characteristic for describing investments in industrial economy.