A Knowledge Theory of Capital:The Value of Natural and Artificial Intelligence
A new academic volume, "A Knowledge Theory of Capital: The Value of Natural and Artificial Intelligence," explores how economic principles must adapt when knowledge itself becomes a form of capital. The book, drawing on Adam Smith's theories, examines how knowledge, when it becomes stock-like and scalable, is generated, converted, deployed, and measured. It introduces concepts like "dark capital" and "expected knowledge loss," proposing that modern wealth is contingent on the governance of productive knowledge. AI
IMPACT Proposes a new economic framework for understanding the value and governance of knowledge, including artificial intelligence, as capital.