The Question of Knowledge in Economics*

Hans Christian Garmann Johnsen ()
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Hans Christian Garmann Johnsen: University of Agder

No 702777, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

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.

Keywords: knowledge in economics; economic theory (search for similar items in EconPapers)
Pages: 15 pages
Date: 2014-10
New Economics Papers: this item is included in nep-his, nep-hme, nep-hpe and nep-knm
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Published in Proceedings of the Proceedings of the 12th International Academic Conference, Prague, Oct 2014, pages 630-644

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Persistent link: https://EconPapers.repec.org/RePEc:sek:iacpro:0702777

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