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special issue: Knowledge, consumption, and endogenous growth

Richard Langlois ()

Journal of Evolutionary Economics, 2001, vol. 11, issue 1, 77-93

Abstract: In neoclassical theory, knowledge generates increasing returns - and therefore growth - because it is a public good that can be costlessly reused once created. In fact, however, much knowledge in the economy is actually tacit and not easily transmitted -and thus not an obvious source of increasing returns. Several writers have responded to this alarming circumstances by affirming hopefully that knowledge today is increasingly codified, general, and abstract - and increasingly less tacit. This paper disputes such a trend. But all is not lost: for knowledge does not have to be codified to be reused and therefore to generate economic growth.

Keywords: Tacit; knowledge; -; Increasing; returns; -; Growth; theory; -; Knowledge; reuse; -; Codification (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
Date: 2001-01-22
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