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The Knowledge – As Production Factor

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  • Enachi Mihaela

Abstract

In the current economic context, knowledge becomes the new nucleus of progress. If in the traditional economy the production factors were land, labor and capital, in the new economy knowledge is the major component of the productive system. Through the present study we try to clarify the position of knowledge in the production system and its role as a production factor, by explaining how it effective acts and contributes to the increase of welfare at the organizational and national levels.

Suggested Citation

  • Enachi Mihaela, 2009. "The Knowledge – As Production Factor," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 14.
  • Handle: RePEc:bac:fsecub:09-14-08
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    References listed on IDEAS

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    1. Ulrich Witt & Tom Broekel & Thomas Brenner, 2012. "Knowledge and its Economic Characteristics: A Conceptual Clarification," Chapters,in: Handbook of Knowledge and Economics, chapter 16 Edward Elgar Publishing.
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