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The purpose of the paper is to improve traditional knowledge management models in light of complexity theory, emphasizing the importance of moving away from hierarchical relationships among data, information, knowledge, and wisdom.

Traditional definitions and models are critically reviewed and their weaknesses highlighted. A transformational perspective of the traditional hierarchies is proposed to highlight the need to develop better perspectives. The paper demonstrates the holistic nature of data, information, knowledge, and wisdom, and how they are all based on an interpretation of existence.

Existing models are logically extended, by adopting a complexity‐based perspective, to propose a new model – the E2E model – which highlights the non‐linear relationships among existence, data, information, knowledge, wisdom, and enlightenment, as well as the nature of understanding as the process that defines the differences among these constructs. The meaning of metas (such as meta‐data, meta‐information, and meta‐knowledge) is discussed, and a reconstitution of knowledge management is proposed.

The importance of understanding as a concept to create useful metaphors for knowledge management practitioners is emphasized, and the crucial importance of the metas for knowledge management is shown.

A new model of the cognitive system of knowledge is proposed, based on application of complexity theory to knowledge management. Understanding is identified as the basis of the conversion process among an extended range of knowledge constructs, and the scope of knowledge management is redefined.

The year 1848 is considered by historians as a political and economic turning point in France: a major political crisis took place in the form of the February Revolution, accompanied by extensive financial troubles for the French government. The economists of that time actively debated the economic causes and consequences of the crisis. This chapter is devoted to the analysis of these financial controversies in French economic thought around 1848. If the political and philosophical debates of 1848 between the liberals and the socialists are quite well known by historians of economic thought, their financial side has been relatively neglected. According to the authors of this chapter, it is nevertheless of great interest to examine the liberal and socialist ideas of that time. This chapter aims to investigate this little-studied question by raising three main issues: the first one consists of presenting the different diagnoses of the 1848 financial crisis from socialist and liberal viewpoints. Second, it proposes an analysis of the content of theoretical controversies about ways to overcome the financial troubles, particularly regarding the trade-off between taxation and debt. Lastly, it emphasizes the role of this period for the subsequent constitution of a financial orthodoxy in France.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.