The Appearance of Knowledge in Growth Theory

Ola Olsson

Economic Issues Journal Articles, 2001, vol. 6, issue 1, 1-20

Abstract: The paper analyzes the appearance of knowledge in growth theory in relation to some fundamental notions in epistemology and the philosophy of science. Based on a brief account of epistemological theory, I discuss the treatment of knowledge in growth models starting from Solow (1956). My results suggest that although some important insights have been made - for instance the distinction between propositional and procedural knowledge and between knowledge gained by experience and by education - there are still confusions in the literature regarding the vital difference between the known and the knowing. Growth theorists have also largely overlooked that knowledge tends to be uncertain and evolves in a discontinuous fashion. Future growth modeling might benefit from empirical patent research at the micro level.

Date: 2001
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