special issue: Knowledge, consumption, and endogenous growth
AbstractIn neoclassical theory, knowledge generates increasing returns - and therefore growth - because it is a public good that can be costlessly reused once created. In fact, however, much knowledge in the economy is actually tacit and not easily transmitted -and thus not an obvious source of increasing returns. Several writers have responded to this alarming circumstances by affirming hopefully that knowledge today is increasingly codified, general, and abstract - and increasingly less tacit. This paper disputes such a trend. But all is not lost: for knowledge does not have to be codified to be reused and therefore to generate economic growth.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 11 (2001)
Issue (Month): 1 ()
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Web page: http://link.springer.de/link/service/journals/00191/index.htm
Find related papers by JEL classification:
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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- Nour, Samia, 2011. "The importance (impact) of knowledge at the macro-micro levels in Sudan," UNU-MERIT Working Paper Series 034, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
- Christian Schubert & Andreas Chai, 2012. "Sustainable Consumption and Consumer Sovereignty," Papers on Economics and Evolution 2012-14, Max Planck Institute of Economics, Evolutionary Economics Group.
- Consoli, Davide & Elche-Hortelano, Dioni, 2010. "Variety in the knowledge base of Knowledge Intensive Business Services," Research Policy, Elsevier, vol. 39(10), pages 1303-1310, December.
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