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Metaphors of Knowledge in Economics

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  • Wilfred Dolfsma

Abstract

"Knowledge" takes a central place in economics. This paper shows that the metaphor pervasively used in neoclassical economics to understand knowledge is that of "capital". Taking capital as a metaphor of knowledge introduces problems in neoclassical economic theory, as becomes apparent when economics addresses issues of learning and technological development. Instead, it is argued that economists could learn from what philosophers such as Gilbert Ryle and Michael Polanyi have said about how to understand knowledge.

Suggested Citation

  • Wilfred Dolfsma, 2001. "Metaphors of Knowledge in Economics," Review of Social Economy, Taylor & Francis Journals, vol. 59(1), pages 71-91.
    • Handle: RePEc:taf:rsocec:v:59:y:2001:i:1:p:71-91
    DOI: 10.1080/00346760010017519
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    Citations

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    Cited by:

    1. Wilfred Dolfsma, 2001. "Economists as subjects: Toward a psychology of economists," Forum for Social Economics, Springer;The Association for Social Economics, vol. 30(2), pages 77-88, March.
    2. Francesca Masciarelli, 2006. "Wilfred Dolfsma and Luc Soete, Understanding the Dynamics of a Knowledge Economy," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 10(4), pages 463-468, November.
    3. Dolfsma, Wilfred, 2005. "Towards a dynamic (Schumpeterian) welfare economics," Research Policy, Elsevier, vol. 34(1), pages 69-82, February.
    4. 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.
    5. William Jackson, 2005. "Capabilities, Culture and Social Structure," Review of Social Economy, Taylor & Francis Journals, vol. 63(1), pages 101-124.
    6. Burak Erkut, 2020. "From Digital Government to Digital Governance: Are We There Yet?," Sustainability, MDPI, vol. 12(3), pages 1-13, January.

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