The Knowledge – As Production Factor
AbstractIn the current economic context, knowledge becomes the new nucleus of progress. If in the traditional economy the production factors were land, labor and capital, in the new economy knowledge is the major component of the productive system. Through the present study we try to clarify the position of knowledge in the production system and its role as a production factor, by explaining how it effective acts and contributes to the increase of welfare at the organizational and national levels.
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Bibliographic InfoArticle provided by University "Vasile Alecsandri" of Bacau, Faculty of Economic Sciences in its journal Studies and Scientific Researches - Economic Edition.
Volume (Year): (2009)
Issue (Month): 14 ()
knowledge; residual production factor; individual production factor; economic growth.;
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- Ulrich Witt & Tom Broekel & Thomas Brenner, 2007. "Knowledge and its Economic Characteristics - A Conceptual Clarification," Jena Economic Research Papers 2007-013, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
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