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special issue: Knowledge, consumption, and endogenous growth

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Author Info

  • Richard N. Langlois

    ()
    (Department of Economics, The University of Connecticut, U63, Storrs, CT 06269-1063, USA)

Abstract

In 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 Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 11 (2001)
Issue (Month): 1 ()
Pages: 77-93

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Handle: RePEc:spr:joevec:v:11:y:2001:i:1:p:77-93

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Related research

Keywords: Tacit knowledge - Increasing returns - Growth theory - Knowledge reuse - Codification;

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Cited by:
  1. Samia Nour, 2013. "The Incidence and Transfer of Knowledge Within the Arab Societies," Journal of the Knowledge Economy, Springer, vol. 4(4), pages 406-422, December.
  2. Nour, Samia Satti Osman Mohamed, 2013. "The importance and impacts of knowledge at the macro-micro levels in the Arab Gulf countries," MERIT Working Papers 016, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  3. 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.
  4. Dewen Yao, 2013. "Understanding Industrial Innovation and Upgrade from Modularization’s Perspective," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(6), pages 11, December.
  5. 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.
  6. Nour, Samia, 2011. "The importance (impact) of knowledge at the macro-micro levels in Sudan," MERIT Working Papers 034, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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