Adarsh Verma & Bhanu Prakash Verma, University of Allahabad
Introduction
We are living into the world dominated by power of knowledge. It is true that the present generation has better opportunities and facilities to acquire knowledge and transform it into creation of wealth. But generations over generations, a great treasure of knowledge and wisdom has been created by people who might not have been formerly educated in class rooms. But they have had robust common sense, great understanding of nature, rich experience and selfless attitude. The indigenous people, local communities, folklore, sages, and seers are great reservoir of traditional knowledge.
It is equally true that in this competitive global era, only those nations will survive and flourish who have the potential to convert the knowledge into wealth.
People at large do not have the capacity to transform their knowledge into formal specification and consequently into wealth. Some people who are hampered because of their poverty, illiteracy, isolative habitat, lack of information and technological gadgets are unable to convert their knowledge into wealth. On the other hand, some are able, strong and potent to use traditional knowledge for profiteering.
