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The Knowledge Economy/Society: The Latest Example of “Measurement Without Theory”?

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Abstract

The world has embraced a set of concepts (knowledge driven growth) which are seen as the ‘core of future growth and wellbeing’ without any commonly agreed notion of what they are, how they might be measured, and crucially therefore, how they actually do (or might) affect economic growth and social wellbeing. The theory of how the mechanism works lacks important detail.

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  • Les Oxley & David Thorns & Paul Walker & Hong Wang, 2008. "The Knowledge Economy/Society: The Latest Example of “Measurement Without Theory”?," Working Papers in Economics 08/03, University of Canterbury, Department of Economics and Finance.
  • Handle: RePEc:cbt:econwp:08/03
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    File URL: http://www.econ.canterbury.ac.nz/RePEc/cbt/econwp/0803.pdf
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-1158, December.
    3. Erik Brynjolfsson, 1994. "Information Assets, Technology and Organization," Management Science, INFORMS, vol. 40(12), pages 1645-1662, December.
    4. Markus C. Becker, 2004. "Organizational routines: a review of the literature," Industrial and Corporate Change, Oxford University Press, vol. 13(4), pages 643-678, August.
    5. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    6. Ionara Costa, 2001. "Ownership and Technological Capabilities in Brazil," DRUID Working Papers 01-06, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    7. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
    8. Rabin, Matthew, 1993. "Information and the Control of Productive Assets," Journal of Law, Economics, and Organization, Oxford University Press, vol. 9(1), pages 51-76, April.
    9. Trinh Le & John Gibson & Les Oxley, 2003. "Cost- and Income-based Measures of Human Capital," Journal of Economic Surveys, Wiley Blackwell, vol. 17(3), pages 271-307, July.
    10. Kenneth J. Arrow, 1962. "The Economic Implications of Learning by Doing," Review of Economic Studies, Oxford University Press, vol. 29(3), pages 155-173.
    11. Hart, Oliver D, 1988. "Incomplete Contracts and the Theory of the Firm," Journal of Law, Economics, and Organization, Oxford University Press, vol. 4(1), pages 119-139, Spring.
    12. Kenneth Carlaw & Les Oxley & Paul Walker & David Thorns & Michael Nuth, 2006. "BEYOND THE HYPE: INTELLECTUAL PROPERTY AND THE KNOWLEDGE SOCIETY/KNOWLEDGE ECONOMY," Journal of Economic Surveys, Wiley Blackwell, vol. 20(4), pages 633-690, September.
    13. Cowan, Robin & David, Paul A & Foray, Dominique, 2000. "The Explicit Economics of Knowledge Codification and Tacitness," Industrial and Corporate Change, Oxford University Press, vol. 9(2), pages 211-253, June.
    14. Nicolai J. Foss, 2002. "Economic Organization in the Knowledge Economy: An Austrian Perspective," Chapters,in: Entrepreneurship and the Firm, chapter 3 Edward Elgar Publishing.
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    Cited by:

    1. Alexandra Luciana Gu??, 2015. "An analysis of factors that influence organizational learning: The case of higher education institutions," Proceedings of International Academic Conferences 1003387, International Institute of Social and Economic Sciences.
    2. repec:jes:wpaper:y:2012:v:4:p:340-355 is not listed on IDEAS
    3. Alexandra Luciana Guta, 2012. "The Learning Organization – An Answer To The Challenges Of The Actual Business Environment?," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(3), pages 340-355, September.

    More about this item

    Keywords

    Knowledge Economy; Knowledge Society; Human Capital; Theory of the Firm;

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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