The Professions as Systems that Support Transactions Involving Knowledge: Their Contribution to Economic Development and their Response to the Growth of Global Markets

Gordon Boyce

Chapter 13 in Institutions and Market Economies, 2007, pp 305-321 from Palgrave Macmillan

Abstract: Abstract This chapter examines professions as systems that support transactions involving knowledge. With respect to transactions with clients, professional bodies facilitate such exchanges by validating knowledge, creating brands and establishing a price. The associations also rely on network structures to effect exchanges of knowledge and know-how among practitioners, and they operate as communicating nodes when interacting with outside constituents, including other professional groups, governments and regulatory agencies.

Keywords: Business School; Professional Group; Professional Organization; Accountancy Profession; Accreditation Process (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-38994-6_13

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DOI: 10.1057/9780230389946_13

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