The 19th century technological boom stimulated the development of manufacturing. That fact has changed the dynamics and structure of world economic relations. Managing these relations has become simplified and caused the world economic system in the middle of the 20th century. Interdependence and correlation between national economics have become prioritized.

The development of IT and the invention of the internet were the next step in influencing the economics of the 1980’s. In his work, Max Polyakov, PhD, says that a number of information systems, web services and tools united and formed a new information environment. Later it caused the innovative economic development model and its intellectualization. Meanwhile, the essence of economics intellectualization had not been clearly defined.

Maximilian Weber considered the intellectualization as an aspiration to the most rational behaviour, and Karl Marx thought of it as of knowledge accumulation. Dr. Max Polyakov quotes the psychological definition, where intellectualization is an application of intellectual resources and combining cognitive skills. Economists use intellectualization to emphasize the importance of information and intellectual work.

Nowadays, people consider IT technologies and systems within the context of business or country, but not when they talk about the world economy.

That is why, the author offers to connect economy system intellectualization and the intense use of knowledge, regardless of whether it is learned or created. Dr. Max Polyakov also pays attention to the difference between intellectualization and informatization: the first is using knowledge for better manufacturing, managing and decision-making, and the second is focused on information.

The essence of intellectualization lays in using non-material, intellectual assets and capital. Creative tasks are gaining priority: innovations development, updating technologies and generating new activities. Dr. Max Polyakov names 4 signs of intellectualization in economics:

  • Information services evolution.
  • The development of business models and organisational forms for intellectual work.
  • Forming of the legal field of intellectual property.
  • Creating database-like information systems.

Intellectualization causes competition and extends the requirements to the quality and truthfulness of the information. Dr. Max Polyakov names the next things as the reasons for the world economy’s intellectualization progress:

  • Creating better international relations mechanisms.
  • Stimulating the development of social interactions.
  • Creating more effective manufacturing on the micro-level.

Moving to a post-industrial society along with globalization caused the intellectualization in the world economy. Post-industrial society is constantly spreading, especially in countries with developing economies. The industrial economy takes second place. Dr. Max Polyakov is sure that internationalism and creating new activities are the main arguments for implementing intellectualization all over the world.