THE KNOWLEDGE – AS PRODUCTION FACTOR

Enachi Mihaela

Studies and Scientific Researches. Economics Edition, 2009, issue 14

Abstract: In the current economic context, knowledge becomes the new nucleus of progress. If in the traditional economy the production factors were land, labor and capital, in the new economy knowledge is the major component of the productive system. Through the present study we try to clarify the position of knowledge in the production system and its role as a production factor, by explaining how it effective acts and contributes to the increase of welfare at the organizational and national levels.

Keywords: knowledge; residual production factor; individual production factor; economic growth. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:bac:fsecub:09-14-08

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