Research is the quest for facts, data, familiarity, awareness, understanding, and knowledge. It is a technical, methodical, systematic, logical, defined, and systematic investigation for knowledge that is useful and relevant statistics on a detailed and definite theme. It is the watchful examination or review expressly and principally from end to end penetrating for new facts and data in any knowledge outlet (Ackoff, 1961). By way of explorations, case studies, enquiries o research which is in no matter less than an art of systematic investigation and a systematized effort to gain new knowledge(Ackoff, 1962) we can do the management of resources or things, facts, data, ideas, perceptions, outlook, or symbols for the tenacity or determination of inferences and generalizing to extend, correct or verify knowledge, whether that knowledge helps and has a utility to construct a theory or helps and provides advantage in the practice of an art (Allen, 1978).
Knowledge, on the other hand, is as somewhat analogous with a shaped and re-shaped palpable, touchable or a concrete normal good. The Knowledge-based economy is the leading and therefore over-riding economic growth and development exemplar cum paradigm in post‐industrial times that materialized in the 1980s, with a special focus on the starring role of the production, consumption and, distribution of knowledge as the key carrier in the process of economic growth and economic development(Harris, 2002).
Research and knowledge acquisition for some people is basically a journey from the notorious to the anonymous while for others they are in fact a journey towards innovations, technological advancements, and discovery. Very few prefer learning by doing and are desirous and inquisitive for innovations, learning new things, and knowledge constructions. Our longing for research and knowledge makes us a question, investigate, move-out, enquire, and attain better thoughtfulness and indulgence of the unknown. Research, one-way substitution for keenness and curiosity, is the queen of all knowledge pools and the modus operandi or a methodology that we apply in order to arrive at the logical deductions and interpretations.
A good interface between research and knowledge will create a decent, virtuous, worthy, and a successful economy whose knowledge base is wide and comprehensive. And a bad interface between research and knowledge will create bad economy whose knowledge base is contracted and narrow and as a result incomplete. Research and knowledge are two sides of the same coin just like globalization and technology which are corresponding cum complementary to each other and a good interface between the two is sine-qua-non for economic growth and economic development in the modern-day global village(Qadri & Bhat, 2018) driven by the forces of Globalization, Liberalization, and Privatization. According to Domar, investment has a twofold role in the economy. On the one hand, it generates income in the economy and on the other hand, it increases productive capacity in an economy. In the same manner, the system of education in an economy has a dual role. On the one hand, it promotes research and on the other hand, it promotes knowledge thereby broadening the knowledge base of the society that drives the country on the path of growth and progress.
There is a triple or three-way classification or portrayal of higher education which are modern and therefore up-to-date in nature(EGyanKosh., 2017).At the outset, a development that is collective, cost-effective and developed in nature technologically spread more and more knowledge and specialization. Being the main protagonist in Adam Smith’s an enquiry into the nature and cause of Wealth of Nations, economic growth, according to great economist Ibn Khaldun (as cited by Kalpakian, 2008)is rooted in the cumulative division of labour and specialization. In any emerging and unindustrialized economy there is a cumulative and accumulative prominence on specialization and the division of labour. As far as the division of labour is concerned, it is a specialization of the various jobs desirable for the wherewithal, food and sustenance of society which for the most part adopts or undertakes a very high degree of occupational and professional specialization in a society.
There is a positive and significant relationship between the size of the society and its knowledge base. The larger and more multifaceted a society is, greater is the knowledge base and vice versa. In a multi-layered and multidimensional society, we are more likely to find that division of labour and specialization thereby more probability of growth and development. The society which is more hierarchal and heterogeneous in nature stretch the kingdom of the division of labor and specialization .Research and knowledge are supplementary in partial terms to society’s division of labour which leads to specialization that will lead to an increase in the productivity or efficiency levels of the factors of production. Firms take advantage from economies of scale that have their roots in division of labor and specialization on the one hand and research and knowledge on another hand.
Ackoff, R. L. (1961). The Design of Social Research. Chicago: Chicago Press.
Ackoff, R. L. (1962). Scientific Method. New York: John Wiley & Sons.
Allen, T. H. (1978). New Methods in Social Science Research. New York: Praeger Publishers.
EGyanKosh. (2017). Aims of Higher Education. Retrieved fromhttp ://egyan kosh .ac .in // handle / 123456789/21620
Harris, G. R. (2002). The knowledge‐based economy: intellectual origins and new economic perspectives. International Journal of Management Reviews, 3(1), 21–40. Retrieved from https://doi.org/10.1111/1468-2370.00052
Kalpakian, J. (2008). Ibn Khaldun’s influence on current international relations theory. The Journal of North African Studies., 13(3), 363–376.
Qadri, B., & Bhat, M. (2018). Interface between Globalization and Technology. Asian Journal of Managerial Science, 7(3), 1–6.
—The author is an ICSSR Doctoral Fellow at the Department of Economics, Central University of Kashmir and an Academic Counsellor, IGNOU STUDY CENTRE 1209,S.P. College, Srinagar. She can be reached at: email@example.com