This paper argues for a radical new understanding of the topic generally referred to as Tacit Knowledge. On the basis of a new appraisal of the work of Michael Polanyi, we argue that mapping, assessing, fostering, developing, and improving the tacit component in all use of skill and knowledge is...

This paper provides evidence from a natural experiment on the importance of workers' tacit knowledge about firms' intangible assets for competition in product and labor markets. Evidence is presented on product and labor market imperfections across manufacturing and services firms in the...