Fritz Machlup

Fritz Machlup was an Austrian-American economist known for his work on knowledge and information economics. He studied how information, education, and knowledge impact economies and society, emphasizing the growing importance of these intangible assets in modern development. Machlup's research helped explain the shift from traditional industrial economies to information-driven ones, highlighting the value of intellectual capital. His work provided insights into understanding economic progress in an increasingly knowledge-based world.