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Managing a Societies Knowledge base A look at Opportunity Costs

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Author Info
Khumalo, Bhekuzulu

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Abstract

As explained in the paper namely, “Measuring a Societies Knowledge base”, it is not difficult to measure the knowledge base of a society, though it would be very laborious and time consuming. Knowledge is simply all the laws of existence a society knows plus all the products that a society creates. Each law that a society knows was given the symbol of point X and each product that a society made was given the symbol point U. Point U being a derivative of the laws of existence that we know. Every product in existence represents a point U, and every product is a derivation of what we understand about the laws of existence. We make spoons out of steel, wood, or plastic rather than cotton, paper, or mercury because of the properties that human beings understand the different materials. From the most simple point U to the most complex, all are derivatives of laws of existence that humans understand. From a simple point U like a tooth pick made of thorns to the most complex such as a nuclear powered submarine, all are derived from what human beings understand about the materials.

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File URL: http://mpra.ub.uni-muenchen.de/8943/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8943.

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Date of creation: Oct 2007
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Handle: RePEc:pra:mprapa:8943

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Related research
Keywords: point X point U opportunity Cost managing knowledge choice incentive

Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
A20 - General Economics and Teaching - - Economics Education and Teaching of Economics - - - General
O22 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
A10 - General Economics and Teaching - - General Economics - - - General
O21 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Przeworski, Adam & Vreeland, James Raymond, 2000. "The effect of IMF programs on economic growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 385-421, August. [Downloadable!] (restricted)
  2. Hakan Kara & Fethi Ogunc, 2005. "Exchange Rate Pass-Through in Turkey : It is Slow, but is it Really Low?," Working Papers 0510, Research and Monetary Policy Department, Central Bank of the Republic of Turkey. [Downloadable!]
  3. Menon, Jayant, 1995. " Exchange Rate Pass-Through," Journal of Economic Surveys, Blackwell Publishing, vol. 9(2), pages 197-231, June.
  4. Jonathan McCarthy, 2000. "Pass-through of exchange rates and import prices to domestic inflation in some industrialized economies," Staff Reports 111, Federal Reserve Bank of New York. [Downloadable!]
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