The Knowledge-Based Economy: From the Economics of Knowledge to the Learning Economy (original) (raw)
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Limits to the economy of knowledge and knowledge of the economy
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The Economics of Knowledge and Learning
Research on Technological Innovation, Management and Policy
1. OECD has pursued several analytical acticitities along thes e lines (Foray and Lundvall 1996, OECD 1996). The P ortuguese chairmanship for the EU Ministerial council for the first 6 months of the year 2000 were pursued under the theme of a Europe based on knowledge and innovation. 2. Knowledge has been at the centre of analytical interest from the very beginning of civilisation. Aristotle distinguished between: Epistèmè: knowledge that is universal and theoretical. Technè: knowledge that is instrumental, context specific and practise related. Phronesis: Knowledge that is normative, experiencebased, context-specific and related to common sense: "practical wisdom". At least two of our categories have roots that go back to these three intellectual virtues. Know-why is similar to epistèmè and know-how to technè. But the correspondence is imperfect, since we will follow Polanyi and argue that scientific activities always involve a combination of know-how and know-why. Aristotle's third category, phronesis, which relates to the ethical dimension, will be reflected in what is to be said about the need for a social and ethical dimension in economic analysis and about the importance of trust in the context of learning. Towards the learning economy Many indicators show that there has been a shift in economic development in the direction of a more important role for knowledge production and learning. This section looks at some of these changes and the issues they raise for the knowledge base of the education system. Moses Abramowitz and Paul David (1996) have demonstrated that this century has been characterised by increasing knowledge intensity in the production system. The OECD's structural
This chapter is about the production, diffusion and use of knowledge seen in an economic perspective. Fundamental distinctions between tacit and explicit knowledge and between know- how, know-why, know-what and know-who are related to distinctions between public/private and local/global knowledge. It is argued that the idea of the economy as being knowledge based in its current stage is misleading and that it is more enlightening to assume that we have moved into a learning economy where interactive learning is a key to economic performance of firms, regions and nations. This is one reason why a narrow economics perspective is insufficient. The most serious weakness of standard economics is that it abstracts from the fact that agents are more or less competent and that learning processes enhancing competence are fundamental for the economic performance of organisations and regions. When it comes to understand industrial dynamics in the learning economy it is necessary to bring in ot...
Knowledge: From Ethical Category to Knowledge Capitalism
Changing Societies & Personalities, 2021
In the post-industrial economy, the efficiency of scientific knowledge generation becomes crucial. Researchers began to interpret knowledge as a factor of economic growth in the second half of the 20 th century; since then, within the theory of economics and management, various approaches have been developed to study the impact of knowledge on economic growth and performance. With time, the focus of knowledgebased theories shifted from corporate management to macrosystems and economic policy. The article describes the main stages in the development of socioeconomic concepts of knowledge and analyzes the theoretical and methodological aspects of each approach. The authors have also formulated the critical problems in the analysis of the economic category of knowledge at the present stage and suggested ways of overcoming them. The article may be of interest both to researchers and to practitioners in the sphere of corporate strategies and economic policy.
Knowledge and its economic characteristics–a conceptual clarification
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Abstract: This paper discusses several features of knowledge that are often considered crucial for characterizing the economic significance of knowledge: whether it is overtly accessible or tacit, whether it can be or is encoded or not, and whether it has public or private good character. It is argued that all these features depend similarly on the state of the knowledge technology, ie on how knowledge can be acquired, stored, used, and communicated.
Knowledge and the economy: some critical comments
Economy and Society, 2000
Review article of Geoffrey M. Hodgson (1999) Economics & Utopia: Why the Learning Economy is Not the End of History, London: Routledge. Introduction Debates and discussions of ‘the knowledge economy’ have proliferated in recent years, but without any seriously critical examination. I include among these debates and discussions the variations on much the same theme, such as the knowledge society, the information society, the informational society, ‘informatization’ and now ‘the learning economy’. If these were merely debates and discussions between intellectuals then this would not pose much of an urgent issue, but these debates and discussions are tightly linked to policy prescriptions, management strategies and real changes in the character of work, education and even leisure. To say they are tightly linked is to suspend judgement, for the time being, over the direction of determination, but it is to reject the notion that these debates and discussions are merely reflecting pre-existent material and substantive changes.
Knowledge Economics: Summary and Rationality
Modern Economy, 2017
It will be shown that a satisfactory way to look at an economy is to understand the concept of energy costs and use knowledge, and then appreciation of knowledge economics is at hand. One can then grasp the concepts of knowledge economics as their roots are in the major properties of information to see how knowledge behaves, the concept of time and knowledge that needs to be grasped to appreciate economics, to appreciate a phenomenon of the universe, to appreciate what is happening as some societies develop further and others remain stagnant except for a core elite around government. The paper concludes with a thorough analysis of rationality and utility giving our understanding of information and probability, and how rationality allows us to view economic models from the view of knowledge economics giving the properties of information. Our view of economics significantly determines how we treat others; thus our view of economics must be made with all the available information.
"The term Knowledge Economy (KE) or Knowledge Based Economy (KBE) is used in a loose way to refer to the researches, developments and economic activities in Information and Communication Technology. In recent years many other terms have been invented and many others will follow to describe similar developments in other areas of production and consumption. In short, the technological developments centred around information and communication technology towards the end of the 20th century have transformed already significantly the social landscape and reshaped the material basis of society, as Manuel Castells points out."
The Concept of Knowledge in Economics : A Historical Overview
2007
Knowledge is now considered as the main source of economic competitiveness of enterprises, economies, and also the main force of economic development. However, the idea that economic progress and expansion depend on knowledge has been presented for quite a long time. This article reviews the concept of knowledge through researching different economic streams. The concept under recent economic theories and models can be broken down into two different dichotomies: exogenous and endogenous, explicit and tacit. This review shows that all economists are right, although incomplete, when considering the role of knowledge in the economy. From that, some implications will be discussed.The original publication is available at JAIST Press http://www.jaist.ac.jp/library/jaist-press/index.htmlProceedings of KSS'2007 : The Eighth International Symposium on Knowledge and Systems Sciences : November 5-7, 2007, [Ishikawa High-Tech Conference Center, Nomi, Ishikawa, JAPAN]Organized by: Japan Adva...