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The academic and scientific community besides Knowledge Managers and Librarians have been encountering the complex problem of dealing with or managing 'Knowledge' as wealth, resource and product without any scientific discipline or effective tools and strategies. The available tools and techniques of Computer Science, Information Science, Information Technology, Education or Philosophy have become incompatible in dealing with Knowledge but only Data and Information. Knowledge, consisting of interacting thousands of 'Concepts' ,is a complex system with complex control and communication functions. Knowledge as a Product for Mass Production, Marketing, Delivery and Consumption can be studied or dealt with using the tools,techniques and approaches of Mathematics and Cybernetics or Knowmatics. There is an urgent need to develop the discipline of Knowledge Science or Knowmatics for the effective handling and management of Knowledge created by the Humanity and also ensuring the optimal Consumption, Production, Delivery and Marketing of Knowledge. Knowmatics is based on Mathew's Theories of Knowledge Consumption and Production and it is the result of more than 30 years research on diverse aspects of Knowledge, Information ,Education and Information Technology.