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Format: 1 online resource (640 p.)

ISBN: 9781784719760 (e-book)

Series Statement: The international library of critical writings in economics series

Content: Evolutionary economics has become a major heterodox approach over the last decades. Its roots can be traced back to Schumpeter and Veblen. More recently, an important role is also played by analogies to evolutionary biology, notably to natural selection models. As this research review explains, the approach of evolutionary economics offers an improved understanding of market processes, industry dynamics, structural change, and economic growth as being driven by human innovativeness.

Note: The recommended readings are available in the print version, or may be available via the link to your library's holdings. , Recommended readings (Machine generated): Veblen, T. (1898), "Why is Economics Not an Evolutionary Science?" Quarterly Journal of Economics, -- Marshall, A. (1961[1890]), Principles of Economics, London: Macmillan -- Hodgson, G.M. (1993), Economics and Evolution: Bringing Life Back into Economics, Cambridge: Polity Press -- Bowler, P.J. (1989), Evolution - The History of an Idea, Berkeley: University of California Press -- Mirowski, P. (1988), Against Mechanism - Protecting Economics from Science, Totowa, NJ: Rowman & Littlefield -- Mas-Colell, A., Whinston, M.D., and Green, J.R. (1995), Microeconomic Theory, Oxford: Oxford University Press -- Witt, U. (2008), "What is Specific About Evolutionary Economics?" Journal of Evolutionary Economics, 18, 547-575 -- Schumpeter, J.A. (1934[1912]), Theory of Economic Development, Cambridge, MA: Harvard University Press (first published as Theorie der Wirtschaftlichen Entwicklung, 1912) -- Schumpeter, J.A. (1908), Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie, Leipzig: -- Schumpeter, J.A. (1910), "Über das Wesen der Wirtschaftskrisen", Zeitschrift für Volkswirtschaft, Sozialpolitik und Verwaltung, 19, 271-325 -- Witt, U. (2014), "The Future of Evolutionary Economics: Why the Modalities of Explanations Matter", Journal of Institutional Economics, 10, 645-664 -- McClelland, D.C. and Winter, D.G. (1969), Motivating Economic Achievement, New York: Free Press -- Schumpeter, J.A. (1939), Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process, New York: McGraw-Hill -- Andersen, E.S. (2009), Schumpeter's Evolutionary Economics, London: Anthem -- Freeman, C. (1984), Long Waves in the World Economy, London: Pinter -- Iwai, K. (1984), "Schumpeterian Dynamics: An Evolutionary Model of Innovation and Imitation", Journal of Economic Behavior and Organization, 5, 159-190 -- Klepper, S. (1997), "Industry Life Cycles", Industrial and Corporate Change, 6, 145-181 -- Fagerberg, J. (2003), "Schumpeter and the Revival of Evolutionary Economics: An Appraisal of the Literature", Journal of Evolutionary Economics, 13, 125-159 -- Metcalfe, J.S., Foster, J., and Ramlogan, R. (2006), "Adaptive Economic Growth", Cambridge Journal of Economics, 30, 7-32. , Foster, J. (2011), "Evolutionary Macroeconomics: A Research Agenda", Journal of Evolutionary -- Kurz, H. (2012), "Schumpeter's New Combinations", Journal of Evolutionary Economics, 22, 871-899 -- Shane, S.A. and Venkataraman, S. (2000), "The Promise of Entrepreneurship as a Field of Research", Academy of Management Review, 25, 217-226 -- Sahal, D. (1981), Patterns of Technological Innovations, New York: Addison-Wesley -- Nelson, R.R. and Winter, S.G. (1982), An Evolutionary Theory of Economic Change, Cambridge, MA: Harvard University Press -- Schumpeter, J.A. (1942), Capitalism, Socialism and Democracy, New York: Harper -- Reinganum, J.F. (1985), "Innovation and Industry Evolution", Quarterly Journal of Economics, 100, 81-99 -- Aghion, P., Bloom, N., Blundell, R., Griffith, R., and Howitt, P. (2005), "Competition and Innovation: An Inverted-U Relationship", Quarterly Journal of -- Kamien, M.I. and Schwarz, N.L. (1982), Market Structure and Innovation, Cambridge: Cambridge University Press -- Baldwin, W.L. and Scott, J.T. (1987), Market Structure and Technological Change, Chur: Harwood Academic Publishers -- Cohen, W.M. (2010), "Fifty Years of Empirical Studies of Innovative Activity and Performance", in B.W. Hall and N. Rosenberg (eds), Handbook of the Economics of Innovation, Elsevier, Amsterdam, 129-213 -- Alchian, A.A. (1950), "Uncertainty, Evolution, and Economic Theory", Journal of Political Economy, 58, 211-221 -- Penrose, E.T. (1952), "Biological Analogies in the Theory of the Firm", American Economic Review, 42, 804-819 -- Friedman, M. (1953), "The Methodology of Positive Economics", in M. Friedman (ed.), Essays in Positive Economics, Chicago: University of Chicago Press, 3-43 -- Winter, S.G. (1964), "Economic 'Natural Selection' and the Theory of the Firm", Yale Economic Essays, 4, 225-272 -- Winter, S.G. (1971), "Satisficing, Selection, and the Innovating Remnant", Quarterly Journal of Economics, 85, 237-261 -- Nelson, R.R. and Winter, S.G. (2002), "Evolutionary Theorizing in Economics", Journal of Economic Perspectives, 16, 23-46 -- Hanusch, H. and Pyka, A. (eds) (2007), Elgar Companion to Neo-Schumpeterian Economics, Cheltenham, UK and Northampton, MA, USA: Edward Elgar -- Simon, H.A. (1955), "A Behavioral Model of Rational Choice", Quarterly Journal of Economics, 69, 99-118. , March, J.G. and Simon, H.A. (1958), Organizations, New York: Wiley -- Cyert, R.M. and March, J.G. (1963), A Behavioral Theory of the Firm, Englewood Cliffs, NJ: Prentice Hall -- Dopfer, K. (2011), "Economics in a Cultural Key: Complexity and Evolution Revisited", in J.B. Davis and D.W. Hands (eds), Elgar Companion to Recent Economic Methodology, Cheltenham, UK and Northampton, MA, USA: Edward Elgar -- Andersen, E.S. (1994), Evolutionary Economics - Post-Schumpeterian Contributions, London: Pinter -- Kwasnicki, W. (1996), Knowledge, Innovation and Economy - An Evolutionary Exploration, Cheltenham, UK and Brookfield, VT, USA: Edward Elgar -- Cantner, U. and Pyka, A. (2001), "Classifying Technology Policy from an Evolutionary Perspective", Research Policy, 30, 759-775 -- Becker, M.C. (2004), "Organizational Routines: A Review of the Literature", Industrial and Corporate Change, 13, 643-677 -- Lazaric, N. and Raybaut, A. (2005), "Knowledge, Hierarchy and the Selection of Routines:An Interpretative Model with Group Interactions", Journal of Evolutionary Economics, 15, 393-421 -- Metcalfe, J.S. (1994), "Competition, Fisher's Principle and Increasing Returns in the Selection Process", Journal of Evolutionary Economics, 4, 327-346 -- Metcalfe, J.S. (2002), "On the Optimality of the Competitive Process: Kimura's Theorem and Market Dynamics", Journal of Bioeconomics, 4, 109-133 -- Metcalfe, J.S. (2008), "Accounting for Economic Evolution: Fitness and the Population Method", Journal of -- Metcalfe, J.S. (1998), Evolutionary Economics and Creative Destruction, London: Routledge -- Dosi, G., Nelson, R.R., and Winter S.G. (2000), "Introduction: The Nature and Dynamics of Organizational Capabilities", in G. Dosi, R.R. Nelson, and S.G. Winter (eds), The Nature and Dynamics of Organizational Capabilities, Oxford: Oxford University Press, 1-22 -- Murmann, J.P., Aldrich, H., Levinthal, D., and Winter S. (2003), "Evolutionary Thought in Management and Organization Theory at the Beginning of the New Millennium", Journal of Management Inquiry, 12, 1-19 -- Witt, U. (2011), "Emergence and Functionality of Organizational Routines: An Individualistic Approach", Journal of Institutional Economics, 7, 157-174 -- Joosten, R. (2006), "Walras and Darwin: An Odd Couple?" Journal of Evolutionary Economics, 16, 561-573 -- Hayek, F.A. (1945), "The Use of Knowledge in Society", American Economic Review, 35, 519-530 -- Hayek, F.A. (1978), "Competition as a Discovery Procedure", in F.A. Hayek (ed.), New Studies in Philosophy, Politics, Economics and the History of Ideas, London: Routledge, 179-190 -- Shackle, G.L.S. (1979), Imagination and the Nature of Choice, Edinburgh: Edinburgh University Press. , Witt, U. (2009), "Propositions About Novelty", Journal of Economic Behavior and Organization, 70, 311-320 -- Fisher, F.M. (1983), Disequilibrium Foundations of Equilibrium Economics, Cambridge: Cambridge University Press -- David, P.A. (1985), "Clio and the Economics of QWERTY", American Economic Review, 75 (Papers & Proceedings), 332-337 -- Arthur, W.B., Ermoliev, Y.M., and Kaniovsky, Y.M. (1987), "Path-Dependent Processes and the Emergence of Macro-structure", European Journal of Operations Research, 30, 294-303 -- Wilson, D.S. (2015), "Two Meanings of Complex Adaptive Systems", in D.S. Wilson and A. Kirman (eds), Complexity and Evolution - A New Synthesis for Economics, Cambridge, MA: MIT Press -- Arthur, W.B. (1994), Increasing Returns and Path Dependence in the Economy, Ann Arbor: University of -- Hayek, F.A. (1988), The Fatal Conceit, London: Routledge -- Richerson, P.J., Baldini, R., Bell, A., Demps, K., Frost, K., Hillis, V., Methew, S., Narr, N., Newson, L., Newton, E., Ross, C., Smaldino, P., Waring, T., and Zefferman, M.R. (2015), "Cultural Group Selection Plays an Essential Role in Explaining Human Cooperation: A Sketch of Evidence", Behavioral and Brain Sciences, 760, 1-71 -- Menger, C. (1985 [1883]), Investigations into the Method of the Social Sciences with Special Reference to Economics (first published as Untersuchungen ueber die Methode der Socialwissenschaften und der Politischen Ökonomie, 1883) New York: New York University Press -- Young, P. (1998), Individual Strategy and Social Structure: An Evolutionary Theory of Social -- North, D.C. (1997), Institutions, Institutional Change and Economic Performance, Cambridge: Cambridge University Press -- North, D.C., Wallis, J.J., and Weingast, B.R. (2009), Violence and Social Order, Cambridge: Cambridge University Press -- Ostrom, E. (2014), "Do Institutions Collective Action Evolve?" Journal of Bioeconomics, 16, 3-30 -- Kuran, T. (1995), Private Truths, Public Lies - The Social Consequences of Preference Falsification, -- Brown, G.R. and Richerson, P.J. (2014), "Applying Evolutionary Theory to Human Behavior: Past Differences and Current Debates", Journal of Bioeconomics, 16, 105-128 -- Boulding, K.E. (1981), Evolutionary Economics, Beverly Hills: Sage Publications -- Marchetti, C. (1980), "Society as a Learning System: Discovery, Invention, and Innovation Cycles Revisited", Technological Forecasting and Social Change, 18, 267-282 -- Buenstorf, G. (2004), The Economics of Energy and the Production Process - An Evolutionary Approach, Cheltenham, UK and Northampton, MA, USA: Edward Elgar -- Ayres, R.U. and Warr, B. (2009), The Economic Growth Engine - How Energy and Work Drive Material Prosperity, Cheltenham, UK and Northampton, MA, USA: Edward Elgar. , Georgescu-Roegen, N. (1971), The Entropy Law and the Economic Process, Cambridge, MA: Harvard University Press -- Day, R.H. and Walter J.-L. (1989), "Economic Growth in the Very Long Run: On the Multiple-Phase Interactions of Population, Technology, and Social Infrastructure", in W.A. Barnett, J. Geweke and K. Shell (eds), Economic Complexity, Chaos, Sunspots, Bubbles, and Nonlinearity, Cambridge: Cambridge University Press, 253-289 -- van den Bergh, J.C.J.M. (2007), "Evolutionary Thinking in Environmental Economics", Journal of Evolutionary Economics, 17, 521-549 -- Joseph A. Schumpeter (1947), 'The Creative Response in Economic History', Journal of Economic History, VH (2), November, 149-59 -- Joseph Schumpeter (1928), 'The Instability of Capitalism', Economic Journal, XXXVHI (151), September, 361-86 -- Christopher Freeman (1990), 'Schumpeter's Business Cycles Revisited', in Arnold Heertje and Mark Perlman (eds), Evolving Technology and Market Structure - Studies in Schumpeterian Economics, Aim Arbor: University of Michigan Press, 17-38 -- Armen A. Alchian (1950), 'Uncertainty, Evolution, and Economic Theory', Journal of Political Economy, LVIH, 211-21 -- Sidney G. Winter (1971), 'Satisficing, Selection, and the Innovaring Remnant', Quarterly Journal of Economics, LXXXV (2), May, 237-61 -- Richard R. Nelson and Sidney G. Winter (1980), 'Firm and Industry Response to Changed Market Conditions: An Evolutionary Approach', Economic Inquiry, XVIII (2), April, 179-202 -- Katsuhito Iwai (1984), 'Schumpeterian Dynamics: An Evolutionary Model of Innovation and Imitation', Journal of Economic Behavior and Organization, 5 (2), June, 159-90 -- R.C.O. Matthews (1984), 'Darwinism and Economic Change', in D.A. Collard , N.H. Dimsdale , C.L. Gilbert , D.R. Helm , M.F.G. Scott and A.K. Sen (eds), Economic Theory and Hicksian Themes, Oxford: Clarendon Press, 91-117 -- John M. Gowdy (1985), 'Evolutionary Theory and Economic Theory: Some Methodological Issues, Review of Social Economy, XLIII (3), December, 316-24 -- Jack Hirshleifer (1982), 'Evolutionary Models in Economics and Law: Cooperation Versus Conflict Strategies', Research in Law and Economics, 4, 1-60 -- W. Brian Arthur, Yu M. Ermoliev and Yu M. Kaniovski (1987), 'Path-Dependent Processes and the Emergence of Macro-Structure', European Journal of Operational Research, 30 (3), June, 294-303 -- Paul A. David (1985), 'Clio and the Economics of QWERTY', American Economic Review, 75 (2), May, 332-7 -- Timur Kuran (1989), 'Sparks and Prairie Fires: A Theory of Unanticipated Political Revolution', Public Choice, 61, 41-74 -- G. Haag, W. Weidlich and G. Mensch (1987), 'The Schumpeter Clock', in D. Batten , J. Casti and B. Johansson (eds), Economic Evolution and Structural Adjustment, Berlin: Springer, 187-226 -- Brian Loasby (1983), 'Knowledge, Learning and Enterprise', in J. Wiseman (ed.), Beyond Positive Economics?, New York: St. Martin's Press, 104-21 -- Stan Metcalfe (1989), 'Evolution and Economic Change', in Audrey Silberston (ed.), Technology and Economic Progress, London: Macmillan Press, 54-85. , F.A. Hayek (1978), 'Competition as a Discovery Procedure', in F.A. Hayek , New Studies in Philosophy, Politics, Economics and the History of Ideas, London: Routledge & Kegan Paul, 179-90 -- Ulrich Witt (1985), 'Coordination of Individual Economic Activities as an Evolving Process of Self-Organization', tconomie Appliquie, XXXVII, 569-95 -- Robert Boyd and Peter J. Richerson (1980), 'Sociobiology, Culture and Economic Theory', Journal of Economic Behavior and Organization, 1 (2), June, 97-121 -- F.A. Hayek (1967), 'Notes on the Evolution of Systems of Rules of Conduct', Studies in Philosophy, Politics and Economics, London: Routledge & Kegan Paul, 66-81 -- Viktor Vanberg (1986), 'Spontaneous Market Order and Social Rules: A Critical Examination of F.A. Hayek's Theory of Cultural Evolution', Economics and Philosophy, 2 (1), April, 75-100.

Language: English

Keywords: Electronic books.

URL: https://www.elgaronline.com/view/Research_Reviews/9781852785932/9781852785932.xml

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