Knowledge is the awareness and understanding of facts, truths or information gained in the form of experience or learning (a posteriori), or through introspection (a priori). Knowledge is an appreciation of the possession of interconnected details which, in isolation, are of lesser value. [From Wikipedia, the free encyclopedia]
As regards Foresight activities, it is useful to distinguish formalised knowledge, (in books, papers, etc.), and tacit knowledge which is based on experience feedback and is mostly locked up in experts' brains. This is similar to the distinction between intangible output and tangible output.
Knowledge, in the form of the knowledge economy, is now a priority for policy-makers. Thus, the strategic goal for Europe in 2010 was set at the Lisbon European Council in March 2000 as:
"to become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion."
This expression stresses the fact that in our modern societies, the most valuable asset is intangible, human and social capital and that the key factors are knowledge and creativity.