Abstract
The concepts of information society and knowledge-based economy present a desirable direction of civilizational changes as a means for the realization of responsible socio-economic development and wisdom-based economy of the future. However, they also generate their own sets of challenges and are characterized by imperfections and barriers to development. Proper identification
and reduction of these problems seem to determine the future implementation of responsible strategies of development. The authors emphasize selected challenges that may gravely affect the progress of information society and the associated new model of the economy.
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