The Fundamental Theory of Knowledge
AbstractThis paper summarizes the theory of knowledge from the book of the same title by the same author. The paper begins by asking, and answering, what knowledge is. In searching for precise definitions it rids itself of the ambiguous term of infinity. The seven main laws of knowledge are laid out and discussed. The theory is an economic theory and as such must mention how people choose to seek knowledge. Knowledge is treated like any other commodity or product such as an apple, copper or a television set. Choices must be made in order to acquire knowledge. The tool used is the same tool used for analyzing other commodities - marginal utility analysis. The paper moves on to develop a working function of knowledge. This function helps to give a clear picture of how knowledge gains and loses occur within a society. The function leads to an understanding of critical levels of knowledge as well as the term obsolete knowledge. The paper introduces the term ‘negative’ knowledge and demonstrates how time is lost and gained within the context of knowledge. The sum of knowledge is the last major issue discussed in this paper and it can be considered the ‘signature’ of the theory. The concept that two plus two is not always four differentiates the commodity knowledge from other commodities and products. Finally the implications of this unique property of the commodity knowledge are discussed with the aim of demonstrating how the world would end up as a better place for all with food, shelter, and security for all.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 3733.
Date of creation: 01 Dec 2006
Date of revision:
Knowledge; time; mthetho; konke; critical level; negative knowledge; sum of knowledge;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- A10 - General Economics and Teaching - - General Economics - - - General
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-06-30 (All new papers)
- NEP-HPE-2007-06-30 (History & Philosophy of Economics)
- NEP-IPR-2007-06-30 (Intellectual Property Rights)
- NEP-KNM-2007-06-30 (Knowledge Management & Knowledge Economy)
- NEP-PKE-2007-06-30 (Post Keynesian Economics)
- NEP-UPT-2007-06-30 (Utility Models & Prospect Theory)
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- Khumalo, Bhekuzulu, 2008. "Knowledge Economics role in explaining growth and innovation," MPRA Paper 8799, University Library of Munich, Germany.
- Khumalo, Bhekuzulu, 2008. "Short and long Term behavior of Knowledge," MPRA Paper 8944, University Library of Munich, Germany.
- Khumalo, Bhekuzulu, 2007. "Point X and the Economics of Knowledge," MPRA Paper 3735, University Library of Munich, Germany.
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