SOCIAL SOLIDARITY AS PART OF THE INSTITUTIONAL MATRIX IN THE KNOWLEDGE ECONOMY

СОЦИАЛЬНАЯ СОЛИДАРНОСТЬ КАК ЧАСТЬ ИНСТИТУЦИОНАЛЬНОЙ МАТРИЦЫ В ЭКОНОМИКЕ ЗНАНИЙ

Podgayko Alexey (Подгайко А.А.)
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Podgayko Alexey (Подгайко А.А.): Southern Federal University

State and Municipal Management Scholar Notes, 2021, vol. 2, 278-284

Abstract: The knowledge-based economy can be expressed as a certain consequence of the institutional evolution in the national economy. The institution, representing the norm and the rule, has the main task-the compulsion to choose. Possible choices that are on different indifference curves will have correspondingly different investigative outcomes. So, the action of one institution that forces you to make less useful choices may limit you in the effectiveness of your market communications and transactions. The effectiveness of the institute depends on the proposed choice: if the focal point is at the Nash Equilibrium point, it is an effective institute. But the effectiveness of the institutional environment does not always guarantee economic development and the achievement of the knowledge-based economy. The state, when defining institutions in the national economy in solving problems of cooperation, coordination and distribution, should deliberately limit in some cases the effectiveness of market exchanges in order to supply high-quality public goods. A certain consequence of interaction with the institutional environment will be the formation of implicit knowledge in people. Implicit knowledge will also be a primitive form of institutions. In order for institutions to skillfully minimize transaction costs, it is necessary to achieve the idea of social solidarity in society, so that the institution itself can more easily set the focal point. How to achieve social solidarity, how institutions influence the formation of the knowledge-based economy, how institutions will solve the problems of coordination, cooperation and distribution: a number of issues that are raised in the article.

Keywords: knowledge economics; informal institutions; ideas; economic development; social solidarity; implicit knowledge; institutional environment; society; labour relations (search for similar items in EconPapers)
Date: 2021
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