The Explicit Economics of Knowledge Codification and Tacitness

Abstract

Abstract This chapter attempts to provide greater precision and clarity toward the understanding of the nature and economic significance of knowledge and its variegated forms by presenting the sceptical economist's guide to ‘tacit knowledge’. It critically reconsiders the way in which the concepts of tacitness and codification have come to be employed by economists, and develops a more coherent reconceptualization of these aspects of knowledge production and distribution activities. The chapter also shows that a proposed alternative framework for the study of knowledge codification activities offers a more useful guide for further research directed to informing public policies for science, technological innovation, and long-run economic growth.

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