Relational Knowledge as an Aspect of Local Knowledge
39 Pages Posted: 28 Jul 2020 Last revised: 14 Dec 2020
Date Written: September 3, 2020
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: Suggested Citation