For citation:
For citation: Varakin, D. N. (2023). What is Stable Knowledge? AlterEconomics, 20(1), 127–151. https://doi.org/10.31063/AlterEconomics/2023.20-1.7
Abstract:
The paper investigates the problem of knowledge stability. The purpose of the article is to analyze the theoretical prerequisites for knowledge stability in the economy and society. The study considers the hypothesis about the existence and applicability of stable knowledge in the economy. There are several types of stability: stability in mechanical media, in complex nonlinear systems, asymptotic stability, stability based on the energy criterion, and stability in the institutional environment. “Mechanical approaches” to the stability of economic structures as well as data-driven approaches in management are not considered by the author as comprehensive enough to describe super-complex processes in nonlinear open systems. The article criticizes theories that do not give due regard to the explosive nature of knowledge, setbacks in development, and the existence of limits to growth. Methodologically, the study relies on the synthesis of systemic and synergistic approaches in economics. The research novelty stems from the fact that the study showcases the significance of chaos for knowledge-intensive activity and discusses threats to the stability of the economy and society. The study singles out two types of knowledge with unifying and separating properties. The author links these properties to the specifics of light in physics: civilizational knowledge is like a wave while competitive knowledge is like a particle. A particular emphasis is laid on those properties of knowledge that are based on its “quantum nature”. In this case, small things (knowledge) can control big things, they can completely transform the entire structure and disrupt the stability of the old institutional frameworks. The study puts forward the concept of knowledge genesis as a theoretical and practical transition of stable knowledge into practice. In conclusion, the dangers of reductionist tendencies in economic theory are outlined and avenues for further research are highlighted.
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