Knowledge, Experience, and Financial Decision-Making

Authored by: Gordon L. Clark

The Routledge Handbook of Financial Geography

Print publication date:  December  2020
Online publication date:  December  2020

Print ISBN: 9780815369738
eBook ISBN: 9781351119061
Adobe ISBN:

10.4324/9781351119061-16

 Download Chapter

 

Abstract

One way of mapping twenty-first-century capitalism is to focus on the knowledge economy (Stiglitz and Greenwald, 2014). Since knowledge has value when it is ‘sticky’, economists and geographers have sought to understand the evolution of the economic landscape by reference to the spatial differentiation and concentration of knowledge. So, for example, it is arguable that Silicon Valley was made and is reproduced time and again by agents and organizations seeking to take advantage of their proximity to local knowledge. At one level, knowledge can be prosaic or sophisticated: it is often difficult, if not impossible, to separate one from the other. At another level, knowledge is both a stock and a flow. If knowledge can be commodified and sold, being close to centres of innovation is likely to be less important than the process of making knowledge at the interface between experience, organizations, and markets (see Clark (2018), on the governance and regulation of financial management).

 Cite
Search for more...
Back to top

Use of cookies on this website

We are using cookies to provide statistics that help us give you the best experience of our site. You can find out more in our Privacy Policy. By continuing to use the site you are agreeing to our use of cookies.