Tacit knowledge

The concept of tacit knowing comes from scientist and philosopher Michael Polanyi.

By definition, tacit knowledge is not easily shared. One of Polanyi's famous aphorisms is: "We know more than we can tell." Tacit knowledge consists often of habits and culture that we do not recognize in ourselves.

Friedrich Hayek attributed the birth of civilization to private property in his book The Fatal Conceit, which he saw as the basic necessity to create price signals. According to him, price signals are the only possible way to let each economic decision maker communicate tacit dispersed knowledge to each other, in order to solve the economic calculation problem.

There are many implications for organizational learning and knowledge management, including:

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See also: Tacit knowledge, Dispersed knowledge, Economic calculation problem, Friedrich Hayek, Knowledge management, Knowledge transfer, Michael Polanyi, Organizational learning, Price, Private property