THE CONSEQUENCES OF KNOWLEDGE ECONOMY - SPECIFICATIONS OF FINANCIAL DESTRUCTION

Insufficiency and inadequacy of theoretical approach to a financial system, absence of scientific analysis of the functioning of institutions and the market, absurdity of hypotheses and abstract evidence are the factors implying the eroding of trust in the theory and a need to review crucial theoretical principles. In that context it is necessary to put a stronger emphasis on the research of links (conditionality and/or exclusiveness) of the knowledge economy and the knowledge-based economy. The paper raises a hypothesis that the crisis of knowledge in the context of modern economic thought is a result of ideological stereotypes, individual views and domination of corporatism. The author concludes that the knowledge may represent a tool of manipulation and that it is abused for the purpose of modelling, when it is least systematically rational. Scientifically based knowledge economy should offer an objective approach to economic analyses: projections and suggestions.