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Yet, objective mowledge .only exists in rhe dispersed, incomplere, and inconsistenr form I which it appears in many individual minds, and rhe dispersion and lperfeceion of all knowledge are tWO of the basic faces from which the social sciences have to start' (Hayek 1952a: 50). The scientific problem is 'how the "data" of different individuals on which they base their plans are adjusted to the objective facts of their environment (which includes the ion of other peopJe)' (Hayek [1946J 1949: 93). ( ibid p. 44)

"technology is the sum total of what we know about how to use labor and capital ouput. also often refered to as productivity.
25-30% of improvement in productivity comes from new [business] machinery. the rest comes from better business organization and management ( US data).

y=f(N,K,A)=A*K^x*N^1-x ( Duglas production function).

nb: technology influence on income per worker. Y/N

http://webcast.berkeley.edu/courses/stream.php?type=real&webcastid=17258