In this essay, we survey the use of knowledge in economics and argue that knowledge should be treated one way rather than another. In other words, we see our purpose as both positive and normative. First, we want to show how some economists have treated knowledge in their analytical depictions...

Purpose – The purpose of this paper is to consider the impact of Baumol’s work on entrepreneurship has had on framing the economic development puzzle. Design/methodology/approach – In many ways, the intuition behind the paper is straightforward. Entrepreneurs allocate their time and...