The economic interpretation of knowledge and Polanyi's personal knowledge

Lorenzo Cassi (1)

1 CES - Centre d'économie de la Sorbonne

Knowledge is usually treated as a commodity and it is considered to have the features of a public good. The aim of this article is to consider the main arguments of this interpretation, goingback to two seminal papers of Kenneth Arrow and Richard Nelson and to offer an alternative interpretation based on the concept of personal knowledge as put forward by Michael Polanyi.

Keywords: Knowledge; Tactiness; Codification; Learning

Domains: Humanities and Social Sciences; Economics and Finance

Lorenzo Cassi. The economic interpretation of knowledge and Polanyi's personal knowledge. European Journal of Economic and Social Systems, 2007, 20 (1), pp.65-80. ⟨10.3166/EJESS.20.65-80⟩. ⟨hal-00354459⟩