Knowledge economy is not a strict economic concept, and its origin is related to the new economic growth theory. Under the background that the world economic growth mainly depends on the production, diffusion and application of knowledge, American economists Romer and Lucas put forward the new economic growth theory. Romer regards knowledge accumulation as an endogenous independent factor of economic growth, and thinks that knowledge can improve investment efficiency and knowledge accumulation is the source of modern economic growth. Lucas' new economic growth theory projects technological progress and knowledge accumulation on human capital. He believes that the special and professional human capital that shows workers' skills is the real source of economic growth.
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