Knowledge-Based Capital (KBC), despite having a positive effect on productivity at the micro level, is a driver of the weak …

thermodynamic theory, that models the tradeoff between fixed costs and variable costs. We identify tacit knowledge as noise …Geographical clusters of innovative activity are mediums for the efficient transfer of tacit knowledge and its … sensitive "high-fixed-cost knowledge" and demonstrate with the help of the analytical framework that it is more efficiently …

In this paper, we argue for building a research agenda to analyze economic knowledge as an economic good and explore … the socioeconomic institutions that can be relied upon to produce, distribute, and use economic knowledge in an efficient …

approach outlined in his second theory. Tacit knowledge is related to the questions of firms’ core competences and comparative … of competition also lead to different estimates of the importance and value of the tacit knowledge of entrepreneurs …In this paper we first outline the distinction between Schumpeter’s theory of Creative Destruction and other theories …

novel explanation: distortionary taxation. Economic theory suggests that when investments that are substitutes for one … optimal tax theory and the distortion problem. Part V contrasts taxation of favored investments with taxation of higher …