An Evolutionary Theory of Economic Change
Title | An Evolutionary Theory of Economic Change PDF eBook |
Author | Richard R. Nelson |
Publisher | Harvard University Press |
Total Pages | 456 |
Release | 1985-10-15 |
Genre | Business & Economics |
ISBN | 9780674041431 |
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.
Evolutionary Theories of Economic and Technological Change
Title | Evolutionary Theories of Economic and Technological Change PDF eBook |
Author | (Pier) Paolo Saviotti |
Publisher | Routledge |
Total Pages | 286 |
Release | 2018-03-29 |
Genre | Business & Economics |
ISBN | 1351127691 |
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.
Modern Evolutionary Economics
Title | Modern Evolutionary Economics PDF eBook |
Author | Richard R. Nelson |
Publisher | Cambridge University Press |
Total Pages | 285 |
Release | 2018-05-03 |
Genre | Business & Economics |
ISBN | 1108660789 |
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.
Technological Evolution, Variety, and the Economy
Title | Technological Evolution, Variety, and the Economy PDF eBook |
Author | Paolo Saviotti |
Publisher | Edward Elgar Publishing |
Total Pages | 250 |
Release | 1996 |
Genre | Business & Economics |
ISBN |
This text discusses the fundamental role played by qualitative change in economic development and the contribution made by technological change and innovation.
Modern Evolutionary Economics
Title | Modern Evolutionary Economics PDF eBook |
Author | Richard R. Nelson |
Publisher | Cambridge University Press |
Total Pages | 285 |
Release | 2018-05-03 |
Genre | Business & Economics |
ISBN | 110842743X |
Presents the evolutionary perspective of the economy as perpetually moving, driven by innovation, and the empirical research this has guided.
New Developments in Evolutionary Innovation
Title | New Developments in Evolutionary Innovation PDF eBook |
Author | Gino Cattani |
Publisher | Oxford University Press |
Total Pages | 224 |
Release | 2021-05-13 |
Genre | Business & Economics |
ISBN | 0192573969 |
The growth of evolutionary thinking has had a profound impact on economic theory and related fields such as strategy and technological innovation. An important paradigm that underlies the evolutionary theory of innovation is neo-Darwinian evolution. According to this paradigm, evolution is gradualist and based on the mechanisms of variation, selection, and retention. Since the 1970s, theoretical advancements in evolutionary biology have recognised the central role of punctuated equilibrium, speciation, and exaptation. However, despite their significant influence in evolutionary biology, these advancements have been reflected only partially in evolutionary approaches to economics, strategy, and innovation. The aim of this book is to review these advancements and explore their implications, with a particular emphasis on the role of serendipity and unprestateability in innovation and novelty creation.
Technological Innovation as an Evolutionary Process
Title | Technological Innovation as an Evolutionary Process PDF eBook |
Author | John M. Ziman |
Publisher | Cambridge University Press |
Total Pages | 404 |
Release | 2003-09-18 |
Genre | Science |
ISBN | 9780521542173 |
Ground-breaking yet non-technical analysis of the analogy that technological artefacts 'evolve' like biological organisms.