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Metaphors of Knowledge in Economics

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  • Wilfred Dolfsma

Abstract

"Knowledge" takes a central place in economics. This paper shows that the metaphor pervasively used in neoclassical economics to understand knowledge is that of "capital". Taking capital as a metaphor of knowledge introduces problems in neoclassical economic theory, as becomes apparent when economics addresses issues of learning and technological development. Instead, it is argued that economists could learn from what philosophers such as Gilbert Ryle and Michael Polanyi have said about how to understand knowledge.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00346760010017519
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Review of Social Economy.

Volume (Year): 59 (2001)
Issue (Month): 1 ()
Pages: 71-91

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Handle: RePEc:taf:rsocec:v:59:y:2001:i:1:p:71-91

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Related research

Keywords: Economic Theory; Knowledge; Learning; Technology; Philosophy Of Economics;

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Citations

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Cited by:
  1. William Jackson, 2005. "Capabilities, Culture and Social Structure," Review of Social Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 63(1), pages 101-124.
  2. Francesca Masciarelli, 2006. "Wilfred Dolfsma and Luc Soete, Understanding the Dynamics of a Knowledge Economy," Journal of Management and Governance, Springer, Springer, vol. 10(4), pages 463-468, November.
  3. Wilfred Dolfsma, 2001. "Economists as subjects: Toward a psychology of economists," Forum for Social Economics, Springer, vol. 30(2), pages 77-88, March.
  4. Dolfsma, Wilfred, 2005. "Towards a dynamic (Schumpeterian) welfare economics," Research Policy, Elsevier, vol. 34(1), pages 69-82, February.

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