An Evolutionary Theory Of Economic Change

Author : Richard R. Nelson
Publisher : Harvard University Press
ISBN 13 : 9780674041431
Total Pages : 456 pages
Book Rating : 4.37/5 ( download)

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Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Author : Richard R. Nelson
Publisher : Cambridge University Press
ISBN 13 : 1108660789
Total Pages : 285 pages
Book Rating : 4.85/5 ( download)

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Download or read book Modern Evolutionary Economics written by Richard R. Nelson and published by Cambridge University Press. This book was released on 2018-05-03 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary economics sees the economy as always in motion with change being driven largely by continuing innovation. This approach to economics, heavily influenced by the work of Joseph Schumpeter, saw a revival as an alternative way of thinking about economic advancement as a result of Richard Nelson and Sidney Winter's seminal book, An Evolutionary Theory of Economic Change, first published in 1982. In this long-awaited follow-up, Nelson is joined by leading figures in the field of evolutionary economics, reviewing in detail how this perspective has been manifest in various areas of economic inquiry where evolutionary economists have been active. Providing the perfect overview for interested economists and social scientists, readers will learn how in each of the diverse fields featured, evolutionary economics has enabled an improved understanding of how and why economic progress occurs.

Author :
Publisher :
ISBN 13 :
Total Pages : 432 pages
Book Rating : 4.76/5 ( download)

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Download or read book Evolutionary Theory of Economic Change written by and published by . This book was released on 1982 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : (Pier) Paolo Saviotti
Publisher : Routledge
ISBN 13 : 1351127683
Total Pages : 286 pages
Book Rating : 4.84/5 ( download)

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Download or read book Evolutionary Theories of Economic and Technological Change written by (Pier) Paolo Saviotti and published by Routledge. This book was released on 2018-03-29 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, evolutionary theories of economic and technological change have attracted a considerable amount of attention which reflects the problems encountered by mainstream analysis of dynamic phenomena and quantitative change. This book, originally published in 1991, develops the debate and draws on the concepts of evolutionary biology, nonequilibrium thermodynamics, systems and organization theory. While recognizing that new technology is not the cause of quantitative change, the editors claim it should play a more central role in economic theory and policy. At the same time, the ground is laid for a more generalized concept of innovation and experimentation and their relation to routine activities. The book is intended for economists.

Author : R. R. Nelson
Publisher :
ISBN 13 :
Total Pages : 437 pages
Book Rating : 4.60/5 ( download)

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Download or read book An Evolutionary Theory of Economic Change written by R. R. Nelson and published by . This book was released on 1996 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overview and motivation; Organization-theoretic foundations of economic evolutionary theory; Textbook economics revisited; Growth theory; Schumpeterian competition; Economic welfare and policy; Conclusion.

Author : Lars Magnusson
Publisher : Springer
ISBN 13 : 0585351554
Total Pages : 323 pages
Book Rating : 4.51/5 ( download)

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Download or read book Evolutionary and Neo-Schumpeterian Approaches to Economics written by Lars Magnusson and published by Springer. This book was released on 2007-11-23 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: not gentle to the capitalists" (Schumpeter, 1991). Thus, by instead portraying the conflict between entreprenuerial activity and the sociology of the modern state, he came quite close to the analysis carried out by Thorstein Veblen some decades earlier, who emphasized the conflict between p- gressive technology and the institutions of a contemporary "predatory dynastic State of early modern times, superficially altered by a suffusion of democratic and parliamentary institutions" (Veblen, 1964, p. 398). Modern neo-Schumpeterian approaches have continued to build on this groundwork provided by their master. During recent years there has been a great upsurge of discussion on technology, innovations, technological regimes, etc. from the dynamic perspective provided by Schumpeter (Dosi, 1984, Rosegger, 1985; Dosi et al., 1988). Thus the search process for (t- poral) extra profits has been stressed and has been used for modelling attempts. The wider institutional framework for technological change and innovation activity has also been strongly developed more recently. Hence emphasis has grown in the study of technological and industrial regimes, path dependency, and the network approach, developed recently, that social relationships structure the opportunities and constraints that face firms and agents that, for example, carry out innovations (Snehota, 1990).

Author : Kurt Dopfer
Publisher : Cambridge University Press
ISBN 13 : 9781139443234
Total Pages : 604 pages
Book Rating : 4.32/5 ( download)

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Download or read book The Evolutionary Foundations of Economics written by Kurt Dopfer and published by Cambridge University Press. This book was released on 2005-05-23 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely recognised that mainstream economics has failed to translate micro consistently into macro economics and to provide endogenous explanations for the continual changes in the economic system. Since the early 1980s, a growing number of economists have been trying to provide answers to these two key questions by applying an evolutionary approach. This new departure has yielded a rich literature with enormous variety, but the unifying principles connecting the various ideas and views presented are, as yet, not apparent. This 2005 volume brings together fifteen original articles from scholars - each of whom has made a significant contribution to the field - in their common effort to reconstruct economics as an evolutionary science. Using meso economics as an analytical entity to bridge micro and macro economics as well as static and dynamic realms, a unified economic theory emerges.

Author : Peer Zumbansen
Publisher : Edward Elgar Publishing
ISBN 13 : 1849808988
Total Pages : 385 pages
Book Rating : 4.89/5 ( download)

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Download or read book Law, Economics and Evolutionary Theory written by Peer Zumbansen and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary theory belongs to the rare species of theories that are simultaneously fundamental and over-arching, implicating as it does numerous life contexts as well as an array of scholarly disciplines. Armed with a profound grasp of evolutionary theory and its implications to social research, Professors Zumbansen and Calliess have mobilized an appropriately diverse and truly stellar group of academics to investigate how this theory may provide new insights about law, economics, and their inter-relations. Cast against an especially broad intellectual backdrop set by the editors, this volume is sure to become a standard reference in literature. Amir N. Licht, Radzyner School of Law, Israel Zumbansen and Calliess have done a wonderful job in assembling papers from the leading scholars in the field, who draw on evolutionary approaches for explaining developments in both economics and the law. Anybody interested in issues of institutional change will be inspired by the wealth of ideas and the diversity of perspectives. Stefan Voigt, University of Hamburg, Germany Law and economics has arguably become one of the most influential theories in contemporary legal theory and adjudication. The essays in this volume, authored by both legal scholars and economists, constitute lively and critical engagements between law and economics and new institutional economics from the perspectives of legal and evolutionary theory. The result is a fresh look at core concepts in law and economics such as institutions , institutional change and market failure that offer new perspectives on the relationship between economic and legal governance. The increasingly transnational dimension of regulatory governance presents lawyers, economists and social scientists with an unprecedented number of complex analytical and conceptual questions. The contributions to this volume engage with legal theory, new institutional economics, economic sociology and evolutionary economics in an interdisciplinary assessment of the capacities and limits of the state, markets and institutions. Drawing as well upon legal sociology and the philosophy of law, the authors expand and transform the known terrain of law and economics by applying evolutionary theory to both law and economics from a domestic and transnational perspective. Legal scholars, evolutionary and regulatory theorists, economists, economic sociologists, economic historians and political scientists will find this cutting-edge volume both challenging and engaging.

Author : Kurt Dopfer
Publisher : Springer Science & Business Media
ISBN 13 : 9780792373940
Total Pages : 404 pages
Book Rating : 4.44/5 ( download)

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Download or read book Evolutionary Economics: Program and Scope written by Kurt Dopfer and published by Springer Science & Business Media. This book was released on 2001-06-30 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eleven papers written by economists from Europe and the US address the paradigmatic foundations and basic theoretical propositions of economics. Contributions address foundational issues including an interpretive survey looking at the most important contributions of modern evolutionary economics and the ontological basis of evolutionary economics. Next, evolutionary macroeconomics is addressed, including issues relating to evolutionary macrostatics and evolutionary macrodynamics. Evolutionary microeconomics is next featured in essays addressing the dynamic aspects of an evolutionary microdynamics. Other topics include early signs of a revolution in microeconomics and the reconstruction of major evolutionary theories of the firm, with relation to transaction and contract theories. c. Book News Inc.

Author : Miroslav N. Jovanović
Publisher : Edward Elgar Publishing
ISBN 13 : 1785368990
Total Pages : 789 pages
Book Rating : 4.98/5 ( download)

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Download or read book Evolutionary Spatial Economics written by Miroslav N. Jovanović and published by Edward Elgar Publishing. This book was released on 2020-01-31 with total page 789 pages. Available in PDF, EPUB and Kindle. Book excerpt: A crucial question in contemporary economics concerns where economic activities will locate and relocate themselves in the future. This comprehensive, innovative book applies an evolutionary framework to spatial economics, arguing against the prevailing neoclassical equilibrium model, providing important concrete and theoretical insights, and illuminating areas of future enquiry.