Abstract:
Current phase of market economic systems development has been defined as knowledge-based economy (KBE), to contrast it with the former industrial era and underline its peculiarities and the role knowledge plays nowadays. There are, however, different points of view concerning the usefulness of the term and the causes, which brought to the emergence of a different and “new” economic reality (Harris, 2001; Godin, 2006; Valente, 2020a), forcing us to consider the significant divide existing among:
- the Neoclassical theory and its older, but still crucial for its influences, exogenous growth theory incarnation and newer endogenous one,
- the Classical, Keynesian and Post-Keynesian theories, in many respects completely opposite to both kinds of Neoclassical theory.
Present study aims, to:
- sum up some of the researches undertaken by the author in the last decade on the issue;
- underline limitations, that each approach available possess, pointing out meanwhile how each complements alternative ones;
- signalize that their integration is necessary to understand KBE functioning and its emergence and that reconciliation is achievable, analyzing management methods historical evolution during 20th and 21st
This work presents thus the economic arguments, which help identifying controversial issues and stylized facts, that seem impossible to impartially and satisfying answer basing on economic literature alone. Conclusions, moreover, constitute the justification of more in depth management trends analysis presented in a separate text, as to not mix considerations coming from different branches of economic science.
