The 1980s Classical economic theor

The 1980s
Classical economic theory does not fully recognize the value of
knowledge as an organizational asset. However, by the mid-1980s, the
importance of knowledge as a competitive asset was already well-recognized,
in particular, its expression in professional competence. Nevertheless, most
organizations still did not have the strategies and methods for managing
knowledge. It was during this period that Peter Drucker coined the term
“knowledge worker”. He, together with other foresighted writers like Matsuda
and Sveiby, wrote in-depth about the role of knowledge in organization. Thus
by the late 1980s, the ideas that they had developed together with the work
done in artificial intelligence and expert systems gave rise to such concepts
as “knowledge acquisition”, “knowledge engineering” and “knowledge-based