Relational Knowledge as an Aspect of Local Knowledge

39 Pages Posted: 28 Jul 2020 Last revised: 14 Dec 2020

See all articles by Jon Murphy

Jon Murphy

George Mason University - Department of Economics

Date Written: September 3, 2020

Abstract

In this paper, I explore a heretofore undiscussed aspect of Hayekian local knowledge, which I call relational knowledge. I develop relational knowledge through the use of Smithian notions of sympathy. Then, I discuss how relational knowledge operates in competition and entrepreneurship. To demonstrate relational knowledge in action, I discuss two forms of interventionism which could disrupt the formation of relational knowledge: industrial planning and school choice.

Keywords: Relational knowledge, knowledge problem, Adam Smith, Hayek, Industrial Planning, School Choice

JEL Classification: A13, B12, B53, D11, D21, D80, H42, I28, L52, O25, O38

Suggested Citation

Murphy, Jonathan, Relational Knowledge as an Aspect of Local Knowledge (September 3, 2020). GMU Working Paper in Economics No. 20-49, Available at SSRN: https://ssrn.com/abstract=3660551 or http://dx.doi.org/10.2139/ssrn.3660551

Jonathan Murphy (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

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