Table 2.

Major criticisms of the knowledge (information, network, management) economy (industry, society) in relation to research implications

Terms	Key publications	Gist of their writings
Knowledge industry	Machlup, (1962)	• Definition of knowledge industry is extremely wide • Knowledge industry lacks economic theory • Definition of knowledge is ambiguous • Data of knowledge industry is suspect • Market for information is flawed
Knowledge economy	Drucker, (1969, 1973, 1999) EBRD, (2019)	• Writings lack academic & scholarly content • Some of the anecdotes are factually wrong • Definition of knowledge worker is suspect • Writings contain contradiction • Financial and political focus rather than on KE • More on policies on specific projects rather than proactively trying to engage in improving the economy
Post-industrial society, information society	Bell, (1973, 1974, 1979, 1980)	• Writings are wide and use imprecise terms and stress discontinuity • Post-industrial society is only a label as it does not show logical extension of industrial society and capitalist economy • Post-industrial society shows lack of economic & sociological theories
Information industry, information economy	Porat, (1977); Porat & Rubin, (1977)	• Lack theory • Lack valid empirical methodology • Overly reliance on Machlup’s methodology • Used inappropriate measurement system • Lack of proper measurement system
Dynamic theory of organizational knowledge creation	Nonaka, (1991, 1994); Nonaka & Takeuchi, (1995); Von Krogh et al., (2000a, b)	• Conception of tacit knowledge is controversial • Overlooked learning theory re knowledge creation & knowledge sharing • SIEC is oversimplified in catering for knowledge management • Knowledge management is overfocus on IT
Working knowledge, knowledge management	Davenport, (2005); Davenport & Prusak, (1998, 2000); Davenport & Volpel, (2001)	• Knowledge management lacks theory • Tacit knowledge as used in knowledge management is suspect • Difficulty of measuring knowledge management
Network society	Van Dijk, (1999, 2006)	• No theoretical basis of network society • Network society is merely a narrative prescription of hypotheses and facts of contemporary society • Notion of digital divide is real and apparent as it is imperative for all to attain the levels of knowledge and resources needed to become one
Network society	Castells, (1996, 1997, 2000a, b, 2010)	• There is no tenet of a network society • The network society is essentially an information economy/society • Difficult to commodifying information & measuring output attributed by information • Discourse is normative that lacks valid reasoning in economic or sociological meaning
Knowledge society	UNESCO, (2003, 2005a)	• ‘Concept’ of knowledge society is flawed • Many of the indicators lack statistical attribute • Incompatible outcomes of UN and UNESCO even though both are of same organizational umbrella
Knowledge-based economy	OECD, (1996a, b, c, d, 1998, 2000, 2004, 2010)	• Knowledge-based economy is a rhetoric term, a metaphor and superficial, a buzzword • Created falsehood that the knowledge-based economy is a paradise