THE MONOPOLY OF KNOWLEDGE AS THE MAIN FACTOR OF ECONOMIC GROWTH IN THE CONDITIONS OF GLOBALIZATION

Today, a modern economic system is characterized by the transition to a new type of socio-economic development, which is based on knowledge. This is connected with the fact that the economic activity is transformed in the process of creation, dissemination and use of knowledge, which are on the one hand, can be considered as a resource, and on the other – as the final product. The knowledge itself become a direct productive force, the driving force for development and a major factor of increase of competitiveness. At the same time, the development of science, creation of new technologies and science-intensive industries can increase the requirements to the educational level and professional qualification of each employee. In these conditions, the cycle of creation of a product becomes shorter, and the need for innovation increases. This means that the knowledge economy dictates new requirements to the manufacturers in the context of the development of international trade and enhancing the competitiveness of products. So far, in modern conditions – part of the mental labor increases, and physical – on the contrary – reduces, respectively, the first plan is taken by the ability of people to learn and their ability to correct application of a special kind of monopoly – a monopoly on knowledge. In other words, the basis for profitability, increase in profits and a privileged status as any of the Corporation and for the country as a whole – is the monopoly of knowledge, which is achieved due to use of own intellectual capacity, as a part of human capital.