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The economic interpretation of knowledge and Polanyi's personal knowledge

Author

Listed:
  • Lorenzo Cassi

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Knowledge is usually treated as a commodity and it is considered to have the features of a public good. The aim of this article is to consider the main arguments of this interpretation, goingback to two seminal papers of Kenneth Arrow and Richard Nelson and to offer an alternative interpretation based on the concept of personal knowledge as put forward by Michael Polanyi.

Suggested Citation

  • Lorenzo Cassi, 2007. "The economic interpretation of knowledge and Polanyi's personal knowledge," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00354459, HAL.
  • Handle: RePEc:hal:cesptp:hal-00354459
    DOI: 10.3166/EJESS.20.65-80
    as

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    Keywords

    Knowledge; Tactiness; Codification; Learning;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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