Fritz Machlup (December 15, 1902 – Jan 30, 1983) was an Austrian-American economist. He was notable for beingness 1 of the offset economists to examine noesis equally an economical resource. Fritz Machlup's approach to data scientific discipline is that it is a cluster of many disciplines where inward the cardinal centre is 'Information'. In the majority "The Production in addition to Distribution of Knowledge inward the United States" (1962), Fritz Machlup introduced the concept of the "knowledge industry". Machlup distinguishes 5 types of knowledge: practical knowledge, intellectual knowledge, pastime knowledge, spiritual or religious noesis in addition to unwanted knowledge. The "half-life of knowledge" concept is attributed to Fritz Machlup (1962).
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