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Knowledge Flat-talk

PublicationArticle (with peer review)
Ekonomisk tillväxt, Företagandets villkor

Abstract

Articulate knowledge entails the triad: information, interpretation, and judgment. Information is the reading of the facts through a working interpretation. Much of modern political economy has miscarried by discoursing as though interpretation were symmetric and final. This move has the effect of flattening knowledge down to information – here dubbed “knowledge flat-talk.” Economic prosperity depends greatly on discovery, but discovery is often a transcending of the working interpretation, not merely the acquisition of new information. Models typically assume that the modeler’s working interpretation is common knowledge. But often the sets of relevant knowledge of the relevant actors do not approximate the common knowledge assumption. We need better understanding and appreciation of asymmetric interpretation and its dynamics.

Related content: Working Paper No. 140

Klein, D.B. (2010). ”Knowledge Flat-talk: A Conceit of Supposed Experts and a Seduction to All.”The Independent Review, 15(1): 109-121.

Based on content

The People’s Romance: Why People Love Government (as Much as They Do)
Article (with peer review)Publication
Klein, D.B.
Publication year

2005

Abstract

Why do some people never support a free-market proposal, even when they think it would work better than government intervention? For many, the reason is that collective political action offers the romantic notion that “we’re all working together,” while market mechanisms seem to them less lofty because they rely on the self-interest of individuals acting privately.

Related content: Working Paper No. 31

Knowledge Flat-talk
Artikel (med peer review)Publication
Klein, D.B.
Publication year

2010

Abstract

Articulate knowledge entails the triad: information, interpretation, and judgment. Information is the reading of the facts through a working interpretation. Much of modern political economy has miscarried by discoursing as though interpretation were symmetric and final. This move has the effect of flattening knowledge down to information – here dubbed “knowledge flat-talk.” Economic prosperity depends greatly on discovery, but discovery is often a transcending of the working interpretation, not merely the acquisition of new information. Models typically assume that the modeler’s working interpretation is common knowledge. But often the sets of relevant knowledge of the relevant actors do not approximate the common knowledge assumption. We need better understanding and appreciation of asymmetric interpretation and its dynamics.

Related content: Working Paper No. 140

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