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Knowledge in the wonderland of the market of ideas: deconstructing the Economics of Science of Michael Polanyi

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  • Gilberto Tadeu Lima

Abstract

This essay develops a deconstructive interpretation of some aspects of theeconomics of science formulated by Michael Polanyi. In particular, the essay analyzes theextent to which Polanyi’s libertarian positions can be seen as consistent from a logicaldeconstructivepoint of view. Although the essay highlights the existence of inconsistenciesin Polanyi’s discourse, his contribution to the debate about the specificities inherent to theknowledge process is equally emphasized. In other words, even though Polanyi has exaggeratedhis Panglossian belief in the efficiency of the spontaneous coordination of scientificactivities promoted by the market, it is necessary to recognize that his positions regardingthe characteristics of knowledge must be seen as an important antidote against naive proposalsfor centralization of scientific activities under a single authority. JEL Classification: B20; B31; B41.

Suggested Citation

  • Gilberto Tadeu Lima, 1995. "Knowledge in the wonderland of the market of ideas: deconstructing the Economics of Science of Michael Polanyi," Brazilian Journal of Political Economy, Center of Political Economy, vol. 15(2), pages 258-269.
    • Handle: RePEc:ekm:repojs:v:15:y:1995:i:2:p:258-269:id:1239
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    Keywords

    Economic methodology; scientific methodology; philosophy of science; history of economic thought; Michael Polanyi;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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