ResearchBib Share Your Research, Maximize Your Social Impacts
Sign for Notice Everyday Sign up >> Login

The Question of Knowledge in Economics*

Proceeding: 12th International Academic Conference (IAC)

Publication Date:

Authors : ;

Page : 630-644

Keywords : Knowledge in economics; economic theory;

Source : Downloadexternal Find it from : Google Scholarexternal

Abstract

This article argues that despite the fact that the concept of knowledge and is much discussed, it is underdeveloped in economic theory. It discusses this in relation to three dominant positions in economics; the Neoclassical, Institutional and Austrian. Of the three, the Austrian is the position that has gone deepest into the study of knowledge. However, not even the Austrian position has fully explored how knowledge development can be integrated into its theory. It is therefore argued that economic theory should embrace a broader understanding of knowledge, which draws upon a cross-disciplinary approach and takes into account that knowledge is inherently both a subjective, social and complex phenomenon.

Last modified: 2015-03-07 20:31:12