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The Institutions of the MarketOrganizations, Social Systems, and Governance$
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Alexander Ebner and Nikolaus Beck

Print publication date: 2008

Print ISBN-13: 9780199231423

Published to Oxford Scholarship Online: September 2008

DOI: 10.1093/acprof:oso/9780199231423.001.0001

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The Emergence of the Idea of Institutions as Repositories of Knowledge

The Emergence of the Idea of Institutions as Repositories of Knowledge

(p.23) 1 The Emergence of the Idea of Institutions as Repositories of Knowledge
The Institutions of the Market

Geoffrey M. Hodgson

Oxford University Press

This chapter traces the history of the idea of organizational learning back to last quarter of the 19th century. In focuses on George Henry Lewes's concept of the ‘general mind’ and Thorstein Veblen's notion of collective knowledge. Both point out that the social store of custom and tradition is made up of accumulated knowledge. Learning is thus a process of positive feedback between individuals and society. The recent revival of the concept of institutional knowledge is discussed.

Keywords:   organizational learning, George Henry Lewes, general mind, Thorstein Veblen, collective knowledge, institutional knowledge

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