Editorial Knowledge As Capital/Capital As Knowledge

Knowledge is increasingly being recognized as the dominant, the most potent and the 'true ' form of cap-ital. Economies rooted in knowledge and living in knowledge, with all of its socio-organizational requi-sites, are surpassing those societies that are only rich in raw materials, labor, money or land. Strategic re-sources are no longer coming out of the ground, but out of human minds. Even Peter F. Drucker recently [3] acknowledged that 'knowledge has become the capital of a developed economy, and knowledge workers the group that sets society's values and norms. ' Earlier popular treat-ments of knowledge as capital include works of Sowell [5]. More rigorous theoretical background for this concept was advanced by Dewey [2] and also elaborat