Economic Organization in the Knowledge Economy


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Economic Organization in the Knowledge Economy

Vis færre oplysninger Foss, Nicolai J. 2009-08-20 2009-08-20T12:09:53Z 2009-08-20T12:09:53Z 2009-08-20
dc.identifier.isbn 8778731062
dc.description.abstract I critically discuss recent claims about economic organization in the emerging “knowledge economy,” specifically that authority relations will tend to disappear (or at least become radically transformed), the boundaries of the firm will blur, and coordination mechanisms will be much more malleable than assumed in organizational economics, resulting in various “new organizational forms.” In particular, the price mechanism will be used inside hierarchies to a much greater extent. In order to obtain an analytical focus on the knowledge economy, I assume that it may be approximated by “Hayekian settings” (after Hayek 1945), that is, settings in which knowledge is distributed and where knowledge inputs are relatively more important in production than physical capital inputs. I then argue, drawing on organizational economics as well as Mises’ insights in property rights and comparative systems, that the presence of Hayekian settings does not mean that authority will disappear, etc., although economic organization will in fact be affected by the emergence of the knowledge economy. This suggests that Austrian economics has an important contribution to make to the study of economic organization. en_US
dc.format.extent 31 s. en_US
dc.language eng en_US
dc.publisher DRUID en_US
dc.relation.ispartofseries DRUID Working Paper;01-07
dc.title Economic Organization in the Knowledge Economy en_US
dc.type wp en_US
dc.accessionstatus modt09aug20 liga en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Danish Research Unit for Industrial Dynamics en_US
dc.contributor.departmentshort DRUID en_US
dc.contributor.departmentuk Danish Research Unit for Industrial Dynamics en_US
dc.contributor.departmentukshort DRUID en_US
dc.idnumber 8778731062 en_US Frederiksberg en_US
dc.publisher.year 2001 en_US
dc.title.subtitle Some Austrian Insights en_US

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