Knowledge and the Evolving Economy

Andrea Mina

Working Papers from Centre for Business Research, University of Cambridge

Abstract: This paper addresses the problem of knowledge and the far-reaching implications it bears upon innovation and the functioning of economic systems. It develops a stylised analysis of the micro-dynamics of knowledge generation, exchange and absorption. It discusses the properties of knowledge accumulation as a complex process: adaptive, path-dependent, context-dependent, open-ended and creative in the sense that it always entails the potential to endogenously generate radical novelty, in line with theory and evidence from the economics of innovation, but fundamentally at odds with a number of important tenets of equilibrium economics.

Keywords: Knowledge production; knowledge exchange; information; innovation; disequilibrium (search for similar items in EconPapers)
JEL-codes: B52 D80 O33 (search for similar items in EconPapers)
Date: 2010-09
Note: PRO-1
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Persistent link: https://EconPapers.repec.org/RePEc:cbr:cbrwps:wp412

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