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In comparing knowledge and product value, Amidon (1997) [7] observes that knowledge about how to produce products may be more valuable than the products themselves. Leonard [8] similarly points out that products are physical manifestations of knowledge and that their worth depends largely on the value of the embedded knowledge.
The problem of the value of knowledge is often discussed in relation to reliabilism and virtue epistemology. [137] Reliabilism can be defined as the thesis that knowledge is reliably formed true belief. This view has difficulties in explaining why knowledge is valuable or how a reliable belief-forming process adds additional value. [138]
The Gettier problem, in the field of epistemology, is a landmark philosophical problem concerning the understanding of descriptive knowledge.Attributed to American philosopher Edmund Gettier, Gettier-type counterexamples (called "Gettier-cases") challenge the long-held justified true belief (JTB) account of knowledge.
The value of knowledge is the worth it holds by expanding understanding and guiding action. Knowledge can have instrumental value by helping a person achieve their goals. [57] For example, knowledge of a disease helps a doctor cure their patient, and knowledge of when a job interview starts helps a candidate arrive on time. [58]
While in fact Plato seems to disavow justified true belief as constituting knowledge at the end of Theaetetus, the claim that Plato unquestioningly accepted this view of knowledge stuck until the proposal of the Gettier problem. [4] The subject of justification has played a major role in the value of knowledge as "justified true belief".
Kvanvig acknowledges that true belief falls short of knowledge, however to him, true belief is no less valuable than knowledge. Kvanvig believes that epistemology should be focused on understanding, an epistemic standing that Kvanvig maintains is of more value than knowledge and justified true belief.
Regarded as a seminal work, [6] [7] [8] "The Use of Knowledge in Society" was one of the most praised [9] and cited [10] articles of the twentieth century. The article managed to convince market socialists and members of the Cowles Commission (Hayek's intended target) and was positively received by economists Herbert A. Simon, Paul Samuelson, and Robert Solow.
Near the end of the dialogue, Meno poses another famous puzzle, called "The Meno Problem" or "The Value Problem for Knowledge", which questions why knowledge is valued more highly than true belief. [8] In response, Socrates provides a famous and somewhat enigmatic distinction between knowledge and true belief. [9]