IDEAS home Printed from https://ideas.repec.org/a/bus/jphile/v2y2008i1p20-54.html
   My bibliography  Save this article

The knowledge economy/society: the latest example of “Measurement without theory”?

Author

Listed:
  • Les Oxley

    (University of Canterbury)

  • Paul Walker

    (University of Canterbury)

  • David Thorns

    (University of Canterbury)

  • Hong Wang

    (University of Canterbury)

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.

Suggested Citation

  • Les Oxley & Paul Walker & David Thorns & Hong Wang, 2008. "The knowledge economy/society: the latest example of “Measurement without theory”?," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 2(1), pages 20-54, November.
    • Handle: RePEc:bus:jphile:v:2:y:2008:i:1:p:20-54
    as

    Download full text from publisher

    File URL: http://jpe.ro/pdf.php?id=2855
    Download Restriction: no
    File URL: http://jpe.ro/?id=revista&p=137
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    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 and the Associazione ICC, 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. 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.
    7. Rabin, Matthew, 1991. "Information and the Control of Productive Assets," Department of Economics, Working Paper Series qt6b7492v1, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    8. 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.
    9. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
    10. Hart, Oliver D, 1988. "Incomplete Contracts and the Theory of the Firm," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 4(1), pages 119-139, Spring.
    11. 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.
    12. Cowan, Robin & David, Paul A & Foray, Dominique, 2000. "The Explicit Economics of Knowledge Codification and Tacitness," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 9(2), pages 211-253, June.
    13. Rabin, Matthew, 1993. "Information and the Control of Productive Assets," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 9(1), pages 51-76, April.
    14. Sanford J. Grossman & Oliver Hart, 1987. "Vertical Integration and the Distribution of Property Rights," Palgrave Macmillan Books, in: Assaf Razin & Efraim Sadka (ed.), Economic Policy in Theory and Practice, chapter 14, pages 504-548, Palgrave Macmillan.
    15. Assaf Razin & Efraim Sadka (ed.), 1987. "Economic Policy in Theory and Practice," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-18584-9, October.
    16. Nicolai J. Foss & Peter G. Klein (ed.), 2002. "Entrepreneurship and the Firm," Books, Edward Elgar Publishing, number 2377.
    17. Nicolai J. Foss, 2002. "Economic Organization in the Knowledge Economy: An Austrian Perspective," Chapters, in: Nicolai J. Foss & Peter G. Klein (ed.), Entrepreneurship and the Firm, chapter 3, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alexandra Luciana GUȚĂ, 2018. "Organizational learning: cognitive and behavioural changes and implications in higher education institutions," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10(2), pages 198-212, August.
    2. 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.
    3. Paul Walker, 2010. "The (Non)Theory Of The Knowledge Firm," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(1), pages 1-32, February.
    4. 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.
    5. repec:jes:wpaper:y:2012:v:4:p:340-355 is not listed on IDEAS

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paul Walker, 2008. "The (non)Theory of the Knowledge Firm," Working Papers in Economics 08/07, University of Canterbury, Department of Economics and Finance.
    2. Paul Walker, 2010. "The (Non)Theory Of The Knowledge Firm," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(1), pages 1-32, February.
    3. Kirsten Foss & Nicolai Foss, 2001. "Assets, Attributes and Ownership," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(1), pages 19-37.
    4. Nicolai Foss, 2002. "'Coase vs Hayek': Economic Organization and the Knowledge Economy," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 9(1), pages 9-35.
    5. Samuli Leppälä, 2015. "Economic Analysis Of Knowledge: The History Of Thought And The Central Themes," Journal of Economic Surveys, Wiley Blackwell, vol. 29(2), pages 263-286, April.
    6. Kirsten Foss & Nicolai J. Foss, 1999. "Understanding Ownership Residual Rights of Control and Appropriable Control Rights," DRUID Working Papers 99-4, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    7. Pitelis, Christos, 2009. "Edith Penrose’s ‘The Theory of the Growth of the Firm’ Fifty Years Later," MPRA Paper 23180, University Library of Munich, Germany.
    8. Paul Walker, 2015. "Contracts, Entrepreneurs, Market Creation And Judgement: The Contemporary Mainstream Theory Of The Firm In Perspective," Journal of Economic Surveys, Wiley Blackwell, vol. 29(2), pages 317-338, April.
    9. Marin, Giovanni & Vona, Francesco, 2023. "Finance and the reallocation of scientific, engineering and mathematical talent," Research Policy, Elsevier, vol. 52(5).
    10. Viral V. Acharya & Ramin P. Baghai & Krishnamurthy V. Subramanian, 2013. "Labor Laws and Innovation," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 997-1037.
    11. Charlie Karlsson & Gunther Maier & Michaela Trippl & Iulia Siedschlag & Gavin Murphy, 2010. "ICT and Regional Economic Dynamics: A Literature Review," JRC Research Reports JRC59920, Joint Research Centre.
    12. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, December.
    13. Brian Chi‐ang Lin, 2007. "A New Vision Of The Knowledge Economy," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 553-584, July.
    14. Imbriani, Cesare & Morone, Piergiuseppe, 2007. "Knowledge Opportunities and ICT – A Middle Income Country Experience between Growth and Inequality," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 60(4), pages 489-516.
    15. Francis, Bill B. & Kim, Incheol & Wang, Bin & Zhang, Zhengyi, 2018. "Labor law and innovation revisited," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 1-15.
    16. Paul Walker, 2016. "Simple Models of a Human-Capital-Based Firm: a Reference Point Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 7(1), pages 219-247, March.
    17. Ghoddusi, Hamed & Moghaddam, Hussein & Wirl, Franz, 2022. "Going downstream – An economical option for oil and gas exporting countries?," Energy Policy, Elsevier, vol. 161(C).
    18. Khan, Mushtaq H., 2019. "Knowledge, skills and organizational capabilities for structural transformation," Structural Change and Economic Dynamics, Elsevier, vol. 48(C), pages 42-52.
    19. Fulvio Castellacci, 2007. "Evolutionary And New Growth Theories. Are They Converging?," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 585-627, July.
    20. Bernard Paulré, 2001. "Enjeux et dilemmes de l'économie cognitive," Working Papers halshs-00135486, HAL.

    More about this item

    Keywords

    knowledge economy; knowledge society; theory of the firm;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bus:jphile:v:2:y:2008:i:1:p:20-54. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentin Cojanu (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.