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The Economic Value of Knowledge: Embodied in Goods or Embedded in Cultures?

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  • Olivier Crevoisier

Abstract

C revoisier O. The economic value of knowledge: embodied in goods or embedded in cultures?, Regional Studies . 'Tacit' knowledge is a fuzzy concept - a kind of never opened black box - that has not allowed understanding about how knowledge gives birth to monetary income, or to regional development. This paper proposes a distinction between substantial and significant knowledge. While the former refers to knowledge being sold and bought like a good or embodied in goods on the basis of ownership, the latter claims that knowledge workers, firms or communities are remunerated following the institution of authorship, i.e. their capacity to create meaning. This would be a central institution in an increasingly culture-based economy. A typology of regional knowledge-anchoring milieus is then built on this distinction. This paper is a qualitative meta-synthesis of 23 case studies realized in the EURODITE project.

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  • Olivier Crevoisier, 2016. "The Economic Value of Knowledge: Embodied in Goods or Embedded in Cultures?," Regional Studies, Taylor & Francis Journals, vol. 50(2), pages 189-201, February.
    • Handle: RePEc:taf:regstd:v:50:y:2016:i:2:p:189-201
    DOI: 10.1080/00343404.2015.1070234
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    Cited by:

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    2. Ravi Kashyap, 2019. "The Economics of Enlightenment: Time Value of Knowledge and the Net Present Value (NPV) of Knowledge Machines, A Proposed Approach Adapted from Finance," Papers 1908.03233, arXiv.org, revised Jan 2021.
    3. Jili Xu & Fiona Fan Yang & Desheng Xue, 2019. "The Geography of Knowledge Sourcing, Personal Networks, and Innovation Effects: Evidence from the Biomedical Firms in Guangzhou, China," Sustainability, MDPI, vol. 11(12), pages 1-18, June.
    4. Yari Vecchio & Felice Adinolfi & Claudia Albani & Luca Bartoli & Marcello De Rosa, 2020. "Boosting Sustainable Innovation in Densely Populated Areas: A Milieux Innovateurs Approach," Sustainability, MDPI, vol. 12(21), pages 1-15, November.
    5. Hugo Pinto & Jorge André Guerreiro & Manuel Fernández-Esquinas, 2023. "Sources of knowledge in the firm: a review on influential, internal and contextual factors in innovation dynamics," SN Business & Economics, Springer, vol. 3(2), pages 1-32, February.
    6. Kashyap Ravi, 2020. "The Economics of Enlightenment: Time Value of Knowledge and the Net Present Value (NPV) of Knowledge Machines, A Proposed Approach Adapted from Finance," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 20(2), pages 1-23, April.

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