The Variable Time: crucial to understanding Knowledge Economics

Bhekuzulu Khumalo ()

MPRA Paper from University Library of Munich, Germany

Abstract: Though time is a concept mostly associated with physics and philosophy, the concept of time is important to be understood in the discipline of economics. This paper attempts to highlight the importance of time in economics, particularly in knowledge economics, the discipline of economics that looks into the primary commodity, knowledge. The paper attempts to take into account the non linear time concepts that have been very important since Einstein published his papers back in 1905. Without understanding time in a comprehensive manner, it is not possible to have a firm grip on the process of the economic progression of all societies. A theory must hold true in all societies, the characteristics of time must be the same in all societies, as an atom must behave the same in similar laboratory conditions in all societies. This paper will illustrate that without understanding the variable time, it is not possible to fully comprehend knowledge economics.

Keywords: knowledge economics; knowl; time dilation; relativity; time reversal; progression; marginal gain in knowledge; average gain in knowledge (search for similar items in EconPapers)
JEL-codes: A12 A20 B00 B41 C02 C60 D80 O10 O30 (search for similar items in EconPapers)
Date: 2008-07-19
New Economics Papers: this item is included in nep-hpe, nep-knm, nep-ore and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9643

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