Short and long Term behavior of Knowledge

Bhekuzulu Khumalo ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper explores the behaviour of knowledge in the short and long term. Knowledge behaves very different in the short term than in the long term. Once we can measure knowledge it is then possible to look at its behaviour, an impossibility if there where no theory formulated to measure knowledge. Once we can measure, humans can attempt to put knowledge in formulae that make sense. This paper is a follow up to the previous papers, written by the same author. These papers being “The Fundamental theory of Knowledge”, “Point X and the Economics of Knowledge”, and “Measuring a societies Knowledge Base”. The paper is a consistent follow up from the basic theories of knowledge that where developed in those papers, keeping knowledge simply in the scientific realm, as any science should attempt, if economics is a science then its aim is truly to measure economic phenomenon, otherwise economics remains in the realm of art and philosophy where anything goes. Measuring means we can manage. Knowing the long and short term behaviour of knowledge means that societies will be better placed to manage knowledge. The short term though is much easier to manage than the long term, but then again this is a known fact take care of the pennies and the pounds will look after themselves, meaning take care of the small things and the big things will be easier to look after. This paper allows us to understand knowledge in a deeper way than before.

Keywords: knowledge Economics; short term; long term; systems potential; short long term equilibrium; singularity; point x; point u; exponential (search for similar items in EconPapers)
JEL-codes: A10 A20 C02 D80 E0 O11 O30 (search for similar items in EconPapers)
Date: 2008-12
New Economics Papers: this item is included in nep-hpe and nep-knm
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