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Over the past decade, there has been a considerable increase in interest and analysis of the nature and contribution of knowledge to the modern economy and society. The expansion in both the demand for and suppliers of marketable knowledge is leading to the emergence of a knowledge industry which operates increasingly under market conditions, creating new ways for knowledge production and transmission. In the past, inquiries about knowledge have largely occurred within universities, with a focused role in the production, maintenance and transmission of knowledge. In the new 'knowledge economy' this role is open to challenge, with the entry of mainstream firms into the knowledge business. This paper highlights the need to foster linkages between new and old forms of knowledge production and the need for greater government policy on strengthening the flow of knowledge throughout the economy.