Critical analysis of approaches to smart economy

Abstract

The article comprises the critical analysis of the theoretical aspects of the concept of smart economy. This article includes analysis of the structural components of smart city, the presentation of variety of definitions of smart economy, used in scientific articles and strategic documents, the identification of development factors and conditions, necessary for smart economy. The theoretical discussion of the main features of the smart economy, under the aspects of the increase of the long-term urban and national competitiveness seeks to answer the question – is the smart economy in the city is achievable in practice or is only the theoretical myth. This article is the first of the articles‘ complex, appointed to the research of the concept of smart economy and it‘s conditions measurement in Lithuania. This research is funded by the European Social Fund under the Global Grant measure.