On the Theory of Knowledge Resource Inequality: Role of Knowledge Capital in Social Transformation

Sidharta Chatterjee

MPRA Paper from University Library of Munich, Germany

Abstract: Inequality is an effect of much concern for economists and policy makers. Inequality gives rise to poverty, a phenomenon still troubling the world economy characterized by a gap–wherein the standard deviation between the rich and the poor is too high. Various factors attribute to growing inequality, but one which is often overlooked is–misallocation of knowledge resources. In this paper, we reinforce the concept of knowledge as being a capital resource. Following this, by using a simple model, we attempt to explain inequality born out of its heterogeneous allocation and its discrete nature of distribution as a capital resource. The effect being that, lack of access to quality education for those who need it most creates a phenomenon which we call knowledge resource inequality (KRI).

Keywords: Allocation; Capital Resource Inequality (CRI); education; Knowledge resource inequality (KRI); economic planning (search for similar items in EconPapers)
JEL-codes: H4 O1 O15 (search for similar items in EconPapers)
Date: 2021-01-07
New Economics Papers: this item is included in nep-cfn and nep-gro
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