The progression of human society has remained intrinsically linked to the production and application of knowledge that has paved the way for its civilisational journey bringing in the spirit of rationality and scientific thinking, political liberation and social justice, material progress and economic development in society. The higher the quantum of production and application of knowledge, higher has been the degree of spread, sustenance and rejuvenation of such societal progression. Significantly the site of production of knowledge has invariably remained the human mind that possesses the potential to be developed infinitum unlike those of the other productive resources which are circumscribed by inherent limitation (UN, 2005). Human beings stand for cultivation and exploration of this potential that could be harnessed at a large scale for mass use for varieties of social, economic and political purposes. However, for long the processes of exploitation of this potential for the production, accumulation and dissemination of knowledge have remained strictly confined to limited few as these were considered to be the task of designated specialists and the philosophers (Machup, 1962; Drucker, 1968). The knowledgeable were thus a limited selected section of society and to be knowledgeable was a privilege that in many parts of the world was decided by birth and lineage. Moreover within these arrangements knowledge was viewed as the finest moral manifestation of humanity having a non-commoditised precious essence of human ontology.