Demand Complexity And Long Run Economic Evolution

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Demand, Complexity, and Long-Run Economic Evolution

Author : Andreas Chai
Publisher : Springer
ISBN 13 : 3030024237
Total Pages : 189 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Demand, Complexity, and Long-Run Economic Evolution by : Andreas Chai

Download or read book Demand, Complexity, and Long-Run Economic Evolution written by Andreas Chai and published by Springer. This book was released on 2019-05-11 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this contributed volume is to consider how global consumption patterns will develop in the next few decades, and what the consequences of that development will be for the economy, policymakers, and society at large. In the long run, the extent to which economic growth translates into better living conditions strongly depends on how rising affluence and new technologies shape consumer preferences. The ongoing rise in household income in developing countries raises some important questions: Will consumption patterns always continue to expand in the same manner as we have witnessed in the previous two centuries? If not, how might things evolve differently? And what implications would such changes hold for not only our understanding of consumption behavior but also our pursuit of more sustainable societies?

Long-run Economics

Author : Norman Clark
Publisher : Bloomsbury Publishing
ISBN 13 : 147251162X
Total Pages : 246 pages
Book Rating : 4.4/5 (725 download)

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Book Synopsis Long-run Economics by : Norman Clark

Download or read book Long-run Economics written by Norman Clark and published by Bloomsbury Publishing. This book was released on 2013-11-07 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major problem of conventional economic theory as applied to long-run economic change is its unduly narrow and static character, which compromises its capacity to handle conceptually a social process inherently systemic, complex and dynamic. At the same time there is a growing realization in relevant government and industrial circles (reinforced by the example of Japan) that effective economic policy-making needs a strategic, and therefore a technological, content. Long-Run Economics suggests a more realistic conceptual framework for the analysis of economic and technological change. Borrowing from other disciplines, such as sociology, psychology and biology, the authors develop a model that is evolutionary and systemic in character. Special emphasis is given to the role of information flows in the innovative process, while the overall argument is illustrated by two case studies, photovoltaics and fuel ethanol. Finally, the book stresses the strategic importance of science and technology policy and the role of appropriate institutions in facilitating long-run economic change.

Economic Evolution and Structure

Author : Frederic L. Pryor
Publisher : Cambridge University Press
ISBN 13 : 9780521559249
Total Pages : 420 pages
Book Rating : 4.5/5 (592 download)

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Book Synopsis Economic Evolution and Structure by : Frederic L. Pryor

Download or read book Economic Evolution and Structure written by Frederic L. Pryor and published by Cambridge University Press. This book was released on 1996 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pryor follows the theme of structural complexity through many different subdisciplines of economics to show how the US economy has evolved.

Long Term Economic Development

Author : Andreas Pyka
Publisher : Springer Science & Business Media
ISBN 13 : 3642351255
Total Pages : 482 pages
Book Rating : 4.6/5 (423 download)

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Book Synopsis Long Term Economic Development by : Andreas Pyka

Download or read book Long Term Economic Development written by Andreas Pyka and published by Springer Science & Business Media. This book was released on 2013-06-22 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book gives an overview of important research topics recently addressed in evolutionary Neo-Schumpeterian Economics. The list of research questions and applications of Neo-Schumpeterian reasoning impressively demonstrates the rich possibilities ranging from theoretical issues addressing human behaviour to applied areas like the emergence of biotechnology in developing countries, the role of innovation on financial markets and the R&D strategies of multinational enterprises. The chapters in this book bring together a rich set of new analytical and empirical methodologies which allow for new relevant and rigorous insights in innovation processes which are responsible for economic development and structural change.

The Atlas of Economic Complexity

Author : Ricardo Hausmann
Publisher : MIT Press
ISBN 13 : 0262317737
Total Pages : 369 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis The Atlas of Economic Complexity by : Ricardo Hausmann

Download or read book The Atlas of Economic Complexity written by Ricardo Hausmann and published by MIT Press. This book was released on 2014-01-17 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maps capture data expressing the economic complexity of countries from Albania to Zimbabwe, offering current economic measures and as well as a guide to achieving prosperity Why do some countries grow and others do not? The authors of The Atlas of Economic Complexity offer readers an explanation based on "Economic Complexity," a measure of a society's productive knowledge. Prosperous societies are those that have the knowledge to make a larger variety of more complex products. The Atlas of Economic Complexity attempts to measure the amount of productive knowledge countries hold and how they can move to accumulate more of it by making more complex products. Through the graphical representation of the "Product Space," the authors are able to identify each country's "adjacent possible," or potential new products, making it easier to find paths to economic diversification and growth. In addition, they argue that a country's economic complexity and its position in the product space are better predictors of economic growth than many other well-known development indicators, including measures of competitiveness, governance, finance, and schooling. Using innovative visualizations, the book locates each country in the product space, provides complexity and growth potential rankings for 128 countries, and offers individual country pages with detailed information about a country's current capabilities and its diversification options. The maps and visualizations included in the Atlas can be used to find more viable paths to greater productive knowledge and prosperity.

Complexity and Evolution

Author : David S. Wilson
Publisher : MIT Press
ISBN 13 : 0262035383
Total Pages : 409 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Complexity and Evolution by : David S. Wilson

Download or read book Complexity and Evolution written by David S. Wilson and published by MIT Press. This book was released on 2016-08-19 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exploration of how approaches that draw on evolutionary theory and complexity science can advance our understanding of economics. Two widely heralded yet contested approaches to economics have emerged in recent years: one emphasizes evolutionary theory in terms of individuals and institutions; the other views economies as complex adaptive systems. In this book, leading scholars examine these two bodies of theory, exploring their possible impact on economics. Relevant concepts from evolutionary theory drawn on by the contributors include the distinction between proximate and ultimate causation, multilevel selection, cultural change as an evolutionary process, and human psychology as a product of gene-culture coevolution. Applicable ideas from complexity theory include self-organization, fractals, chaos theory, sensitive dependence, basins of attraction, and path dependence. The contributors discuss a synthesis of complexity and evolutionary approaches and the challenges that emerge. Focusing on evolutionary behavioral economics, and the evolution of institutions, they offer practical applications and point to avenues for future research. Contributors Robert Axtell, Jenna Bednar, Eric D. Beinhocker, Adrian V. Bell, Terence C. Burnham, Julia Chelen, David Colander, Iain D. Couzin, Thomas E. Currie, Joshua M. Epstein, Daniel Fricke, Herbert Gintis, Paul W. Glimcher, John Gowdy, Thorsten Hens, Michael E. Hochberg, Alan Kirman, Robert Kurzban, Leonhard Lades, Stephen E. G. Lea, John E. Mayfield, Mariana Mazzucato, Kevin McCabe, John F. Padgett, Scott E. Page, Karthik Panchanathan, Peter J. Richerson, Peter Schuster, Georg Schwesinger, Rajiv Sethi, Enrico Spolaore, Sven Steinmo, Miriam Teschl, Peter Turchin, Jeroen C. J. M. van den Bergh, Sander E. van der Leeuw, Romain Wacziarg, John J. Wallis, David S. Wilson, Ulrich Witt

The General Theory of Economic Evolution

Author : Kurt Dopfer
Publisher : Routledge
ISBN 13 : 1134466870
Total Pages : 153 pages
Book Rating : 4.1/5 (344 download)

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Book Synopsis The General Theory of Economic Evolution by : Kurt Dopfer

Download or read book The General Theory of Economic Evolution written by Kurt Dopfer and published by Routledge. This book was released on 2007-09-27 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to chart the development of the field of evolutionary economics, this book provides an integrated generic framework to define the rules of an economic system; how they are coordinated and the causes and consequences of their change. Packed with pedagogical features including essay and tutorial questions, case studies and an extensive bibliography, this book: proposes a new analytic framework for the study of the nature and causes of long run economic growth and development in market systems analyzes the foundations of the neoclassical tradition, before developing a thesis through micro, meso and macro domains drawing conclusions as to what can be learned from the point of view of policy analysis focuses on an open-systems analytical framework and successfully formulates and refines the analytical foundations of a new general theory of economic evolution. This volume is essential reading for scholars and students of economic evolution and as well as for anyone who seeks to better understand the complex evolutionary nature of the structure and dynamics of the knowledge-based economy in today’s society.

Complexity and Co-evolution

Author : Elizabeth Garnsey
Publisher : Edward Elgar Publishing
ISBN 13 : 1847202926
Total Pages : 231 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis Complexity and Co-evolution by : Elizabeth Garnsey

Download or read book Complexity and Co-evolution written by Elizabeth Garnsey and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . in my opinion. . . readers. . . should find in this book both several remarkable insights concerning basic statements of evolutionary theorising and concrete results that can be acquired by applying such basic statements in computer simulation models and in various fields of analysis. Mauro Lombardi, The Journal of Artificial Societies and Social Simulation Complexity theory first emerged three decades or so ago, but only recently has its potential relevance for the study of social and economic phenomena really begun to be recognised. This timely collection of essays clearly demonstrates, both conceptually and empirically, how complexity theory ideas can provide considerable insight into how socio-economic systems cities, societies, industries, technologies and economies evolve and adapt over time. It is essential reading for anyone interested in how order and evolution emerge out of the seemingly chaotic socio-economic world around us. Ron Martin, University of Cambridge, UK I read Complexity and Co-Evolution with real pleasure. These authors have done the near impossible they have made the concepts of a new and evolving science accessible to people who can apply it in practical ways. The clarity of writing reflects the sort of confidence only the truly informed can muster, for they need no jargon to cover confusions. Their mastery allows them to present the essentials in simple, unadorned forms and through genuinely illustrative examples. Any manager or director trying to navigate dynamic markets can use this book to learn new ways of thinking, explore new possibilities, and study historical experiences. Robert Artigiani, United States Naval Academy Current thinking about evolutionary dynamics increasingly relies on co-evolution, and co-evolution increasingly implies complex dynamics of one sort or another. This volume brings together a capable and well-balanced group of thinkers on these topics who explore these deeply related concepts with up-to-date and advanced tools and concepts. For anyone wishing to learn about the latest developments in these rapidly developing areas, this book is highly recommended. J. Barkley Rosser Jr., James Madison University, US This book applies ideas and methods from the complexity perspective to key concerns in the social sciences, exploring co-evolutionary processes that have not yet been addressed in the technical or popular literature on complexity. Authorities in a variety of fields including evolutionary economics, innovation and regeneration studies, urban modelling and history re-evaluate their disciplines within this framework. The book explores the complex dynamic processes that give rise to socio-economic change over space and time, with reference to empirical cases including the emergence of knowledge-intensive industries and decline of mature regions, the operation of innovative networks and the evolution of localities and cities. Sustainability is a persistent theme and the practicability of intervention is examined in the light of these perspectives. Specialists in disciplines that include economics, evolutionary theory, innovation, industrial manufacturing, technology change, and archaeology will find much to interest them in this book. In addition, the strong interdisciplinary emphasis of the book will attract a non-specialist audience interested in keeping abreast of current theoretical and methodological approaches through evidence-based and practical examples.

Elgar Encyclopedia on the Economics of Knowledge and Innovation

Author : Antonelli, Cristiano
Publisher : Edward Elgar Publishing
ISBN 13 : 1839106999
Total Pages : 579 pages
Book Rating : 4.8/5 (391 download)

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Book Synopsis Elgar Encyclopedia on the Economics of Knowledge and Innovation by : Antonelli, Cristiano

Download or read book Elgar Encyclopedia on the Economics of Knowledge and Innovation written by Antonelli, Cristiano and published by Edward Elgar Publishing. This book was released on 2022-10-14 with total page 579 pages. Available in PDF, EPUB and Kindle. Book excerpt: A landmark reference work in the field, this Elgar Encyclopedia presents over 60 entries from scholars that have shaped the making of the economics of innovation as a distinct and specialised field of investigation within the broad range of economic disciplines. This will be a critical read for economics scholars, particularly those focusing on knowledge and innovation as it offers an understanding of the definitions of key terms in the field, the founding tenets of the topic, and the economics of knowledge and innovation in more specific contexts.

An Evolutionary Theory of Economic Change

Author : Richard R. Nelson
Publisher : Harvard University Press
ISBN 13 : 9780674041431
Total Pages : 456 pages
Book Rating : 4.0/5 (414 download)

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Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson

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.

Innovation, Complexity and Economic Evolution

Author : Pier Paolo Saviotti
Publisher : Taylor & Francis
ISBN 13 : 1000837696
Total Pages : 297 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Innovation, Complexity and Economic Evolution by : Pier Paolo Saviotti

Download or read book Innovation, Complexity and Economic Evolution written by Pier Paolo Saviotti and published by Taylor & Francis. This book was released on 2023-03-23 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: If evolutionary economics is to compete with neoclassical economics as a general-purpose economic theory, it needs to incorporate new aspects of socioeconomic reality, such as institutions of all types, including technical, scientific, and political. Furthermore, evolutionary economics needs to be able to provide policy implications at least as interesting as those of neoclassical economics. Thus, as this book argues, evolutionary economics must become evolutionary political economy. Innovation plays a central role in the book, but not in the sense of providing a technologically determinist interpretation. Rather, the book argues that innovations do not emerge in isolation from other components of socioeconomic systems but coevolve with institutions, infrastructures and organizational forms. This concept of coevolution is absolutely central in the book and provides a link with theories of complexity. In addition to providing an epistemological basis for evolutionary economics, the link with complexity and coevolution offers the connection with evolutionary political economy. Innovations and technologies do not emerge and develop in an institutional vacuum, but interact with existing institutions and reshape them, in addition to inducing the formation of new institutions. In this process, technologies and institutions reinforce each other providing a potential mechanism to transform socioeconomic systems. The book also explores the policy implications of these innovative societies, where wealth is created but unequally distributed. The book is addressed to open-minded economists, social scientists who are dissatisfied with the approach of neoclassical economics, technologists and policy makers.

Routledge Handbook of Evolutionary Economics

Author : Kurt Dopfer
Publisher : Taylor & Francis
ISBN 13 : 0429677723
Total Pages : 477 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis Routledge Handbook of Evolutionary Economics by : Kurt Dopfer

Download or read book Routledge Handbook of Evolutionary Economics written by Kurt Dopfer and published by Taylor & Francis. This book was released on 2023-11-27 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: While dating from post-Classical economists such as Thorstein Veblen and Joseph Schumpeter, the inception of the modern field of evolutionary economics is usually dated to the early 1980s. Broadly speaking, evolutionary economics sees the economy as undergoing continual, evolutionary change. Evolutionary change indicates that these changes were not planned, but rather were the result of innovations and selection processes. These often involved winners and losers, but most importantly, they resulted in actors learning what was and was not working. Evolutionary economics, in contrast to mainstream economics, emphasises the relevance of variables such as technology, institutions, decision rules, routines, or consumer preferences for explaining the complex evolutionary changes in the economy. In so doing, evolutionary economics significantly broadens the scope of economic analysis, and sheds new light on key concepts and issues of the discipline. This handbook draws on a stellar cast list of international contributors, ranging from the founders of the field to the newest voices. The volume explores the current state of the art in the field of evolutionary economics at the levels of the micro (e.g. firms and households), meso (e.g. industries and institutions), and macro (e.g. economic policy, structure, and growth). Overall, the Routledge Handbook of Evolutionary Economics provides an excellent overview of current trends and issues in this rapidly developing field.

Policy Implications of Recent Advances in Evolutionary and Institutional Economics

Author : Claudius Gräbner
Publisher : Routledge
ISBN 13 : 131750044X
Total Pages : 238 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis Policy Implications of Recent Advances in Evolutionary and Institutional Economics by : Claudius Gräbner

Download or read book Policy Implications of Recent Advances in Evolutionary and Institutional Economics written by Claudius Gräbner and published by Routledge. This book was released on 2016-05-12 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection is inspired by the coming retirement of Professor Wolfram Elsner. It presents cutting-edge economic research relevant to economic policies and policy-making, placing a strong focus on innovative perspectives. In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice. At this point, it seems necessary to develop new methods, to reconsider theoretical foundations and especially to take into account the theoretical alternatives that have been advocated within the field of economics for many years. This collection seeks to accomplish this by including institutionalist, evolutionary, complexity, and other innovative perspectives. It thereby creates a unique selection of methodological and empirical approaches ranging from game theory to economic dynamics to empirical and historical-theoretical analyses. The interested reader will find careful reconsiderations of the historical development of institutional and evolutionary theories, enlightening theoretical contributions, interdisciplinary ideas, as well as insightful applications. The collection serves to highlight the common ground and the synergies between the various approaches and thereby to contribute to an emerging coherent framework of alternative theories in economics. This book is of interest to those who study political economy, economic theory and philosophy, as well as economic policy.

Coevolution in Economic Systems

Author : Isabel Almudi
Publisher : Cambridge University Press
ISBN 13 : 1108854990
Total Pages : 98 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Coevolution in Economic Systems by : Isabel Almudi

Download or read book Coevolution in Economic Systems written by Isabel Almudi and published by Cambridge University Press. This book was released on 2021-06-10 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coevolution in economic systems plays a key role in the dynamics of contemporary societies. Coevolution operates when, considering several evolving realms within a socioeconomic system, these realms mutually shape their respective innovation, replication and/or selection processes. The processes that emerge from coevolution should be analyzed as being globally codetermined in dynamic terms. The notion of coevolution appears in the literature on modern innovation economics since the neo-Schumpeterian inception four decades ago. In this Element, these antecedents are drawn on to formally clarify and develop how the coevolution notion can expand the analytical and methodological scope of evolutionary economics, allowing for further unification and advance of evolutionary subfields.

Economic Complexity and Human Development

Author : Dominik Hartmann
Publisher : Routledge
ISBN 13 : 1135118949
Total Pages : 275 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis Economic Complexity and Human Development by : Dominik Hartmann

Download or read book Economic Complexity and Human Development written by Dominik Hartmann and published by Routledge. This book was released on 2018-03-12 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines the human development approach and innovation economics in order to explore the effects that structural economic change has on human development. While economic diversification can provide valuable new social choices and capabilities, it also tends to lead to more complex decision processes and changes to the set of capabilities required by people to self-determine their future. Within this process of structural transformation, social networks are crucial for accessing information and social support, but networks can also be a root cause of exclusion and inequality reproduction. This implies the need to encourage innovation and economic diversification beyond production expansion, focusing on the promotion of human agency and social inclusion. This book provides such a modern perspective on development economics, emphasizing the role of social networks, economic diversity and entrepreneurship for social welfare. The author discusses how innovation, social networks, economic dynamics and human development are interlinked, and provides several practical examples of social and micro-entrepreneurship in contexts as diverse as Peruvian rural villages and Brazil’s urban areas. The interdisciplinary perspective put forward in this book illustrates theoretical and methodological methods of exploring the complexity of development in a practical and relevant way. It also provides useful information about structural factors which need to be considered by practitioners when designing pro-poor growth policies. Furthermore, the coverage of the core concepts of innovation, networks and development economics, enriched with multiple examples, makes it a valuable resource for scholars and advanced students of modern development economics.

Economics for a Fairer Society

Author : Tim Gooding
Publisher : Springer
ISBN 13 : 3030170209
Total Pages : 184 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis Economics for a Fairer Society by : Tim Gooding

Download or read book Economics for a Fairer Society written by Tim Gooding and published by Springer. This book was released on 2019-04-23 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot presents experiments that reveal core dynamics of trade in a complex system. Monetary trade is stripped of all its complications and placed in agent-based models, a complexity research tool capable of reproducing emergent behaviour and evolution. Included are ground-breaking repeatable experiments exploring the impact of evolutionary prerequisites empirically present in markets. Isolating the core dynamics of trade results in very simple agent-based models. However, decades of complexity research demonstrate that even the simplest systems result in emergent behaviour that is extremely difficult to anticipate. Readers who are only familiar with the linear-system theories and models used to train almost all undergraduate economics students might be surprised to witness price detaching from supply and demand, and extreme poverty and wealth arising in trade systems populated by agents with equal ability and opportunity. Watch as empirical evolutionary prerequisites are introduced and price patterns characterising two different markets – asset markets and speculative markets – emerge irrespective of supply and demand. In addition to laying the groundwork of monetary trade in a complex system, more complicated models feature mortal reproductive agents. Including ‘living’ populations in economic models reveal how the complexity characteristics of our market economy are impacting impoverishment and starvation. This book invites anyone interested in economics to join the growing ranks of people who are fascinated by the insights offered by complexity research.

Economics, Evolution and the State

Author : Kurt Dopfer
Publisher : Edward Elgar Publishing
ISBN 13 : 9781845428020
Total Pages : 376 pages
Book Rating : 4.4/5 (28 download)

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Book Synopsis Economics, Evolution and the State by : Kurt Dopfer

Download or read book Economics, Evolution and the State written by Kurt Dopfer and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the emerging field of evolutionary economic policy, highlighting the interface between the state, markets, and the evolutionary complexity of modern economies. The contributors explore the possibilities and limitations of governance, and provide a unique platform for the advancement of modern evolutionary economic theory.