The Variable Time: crucial to understanding Knowledge Economics

Khumalo, Bhekuzulu (2008): The Variable Time: crucial to understanding Knowledge Economics.

Abstract

Though time is a concept mostly associated with physics and philosophy, the concept of time is important to be understood in the discipline of economics. This paper attempts to highlight the importance of time in economics, particularly in knowledge economics, the discipline of economics that looks into the primary commodity, knowledge. The paper attempts to take into account the non linear time concepts that have been very important since Einstein published his papers back in 1905. Without understanding time in a comprehensive manner, it is not possible to have a firm grip on the process of the economic progression of all societies. A theory must hold true in all societies, the characteristics of time must be the same in all societies, as an atom must behave the same in similar laboratory conditions in all societies. This paper will illustrate that without understanding the variable time, it is not possible to fully comprehend knowledge economics.

• Item Type: MPRA Paper
• Language: English
• Keywords: knowledge economics; knowl; time dilation; relativity; time reversal; progression; marginal gain in knowledge; average gain in knowledge
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O10 - General; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A20 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General > B00 - General; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C60 - General; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - General; A - General Economics and Teaching > A1 - General Economics > A12 - Relation of Economics to Other Disciplines; C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D80 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology

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