By Fritz Machlup
With this primary of 8 volumes, the eminent economist Fritz Machlup launches his enormous inquiry into the construction of data as an financial job. quantity I offers the conceptual framework for this inquiry and falls into 3 components: sorts of wisdom, features of data, and data as a Product.
Originally released in 1981.
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Because the fall of the Berlin Wall we now have been advised that no substitute to Western capitalism is feasible or fascinating. This publication demanding situations this view with arguments. First, the above premise ignores the large kind inside capitalism itself. moment, there are huge, immense forces of transformation inside modern capitalisms, linked to strikes in the direction of a extra knowledge-intensive economic climate.
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With this primary of 8 volumes, the eminent economist Fritz Machlup launches his huge inquiry into the construction of data as an financial task. quantity I provides the conceptual framework for this inquiry and falls into 3 components: forms of wisdom, traits of information, and data as a Product.
During this quantity are papers written by way of scholars and co-authors of Stanley Reiter. the gathering displays to a point the variety of his pursuits and highbrow interest. He has released papers in statistics, deal with ment technology, foreign exchange, and welfare economics. He co-authored early papers in financial historical past and is stated to be mostly answerable for giving the sector its identify of Cliometrics.
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Additional resources for Knowledge: Its Creation, Distribution and Economic Significance, Volume 1: Knowledge and Knowledge Production (Princeton Legacy Library)
Knowledge in the sense of "that which is known" exists as soon as one single person "has" it and, hence, it is first produced by the kind of processes mentioned above with the second group of activities producing a "state of knowing"—discovering, inventing, etc. Of course, if only one person has a particular piece of knowledge and does not share it with anybody, it may be that no one knows of it. We do not ordinarily take notice of knowledge possessed by only one knower. " When does such knowledge stop being socially "new"?
I may have to add chapters or rearrange the sequence of the thirty-eight chapters now planned, but I foresee no serious complications in the general organization of the contents. Volume IV has been a great problem. Its proposed title, "Research and New Knowledge, Cognitive and Artistic," may not be suffi ciently explicit to convey that the volume will combine two major subjects of rather different nature: Research and Development, and Artistic Creation and Communication. I have long pondered the question of the most appropriate sequence.
5 The specialist in "information theory" uses the word, as he 3 "It is certainly tempting to think of knowledge as a capital stock of information, knowledge being to information what capital is to income. " Kenneth E. Boulding1 "The Economics of Knowledge and the Knowledge of Economics," American Eco nomic Review, vol. 56, Papers and Proceedings (May 1966), p. 3. " Anthony Downs1An Economic Theory of Democracy (New York: Harper and Row, 1957), pp. 81, 208, 215, 219. 5 Charles West Churchman, "Problem and Representation in Problem-Solving and Inquiry," in M.
Knowledge: Its Creation, Distribution and Economic Significance, Volume 1: Knowledge and Knowledge Production (Princeton Legacy Library) by Fritz Machlup