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Evolutionary And Neo Schumpeterian Approaches To Economics
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Book Synopsis Evolutionary and Neo-Schumpeterian Approaches to Economics by : Lars Magnusson
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).
Book Synopsis The Evolutionary Analysis of Economic Policy by : Pavel Pelikán
Download or read book The Evolutionary Analysis of Economic Policy written by Pavel Pelikán and published by Edward Elgar Publishing. This book was released on 2003 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional doctrines of economic policy have largely failed to address the fact that human economies are evolving, complex adaptive systems rather than equilibrating mechanisms. This volume represents a step towards a more evolutionary approach to economic policy.
Book Synopsis Evolutionary Economics by : Esben Sloth Andersen
Download or read book Evolutionary Economics written by Esben Sloth Andersen and published by Routledge. This book was released on 2013-09-13 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 1996. Routledge is an imprint of Taylor & Francis, an informa company.
Book Synopsis Economics and Evolution by : Jan Reijnders
Download or read book Economics and Evolution written by Jan Reijnders and published by Edward Elgar Publishing. This book was released on 1997 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents an overview of principal characteristics of the modern evolutionary approach to economics and offers insight into the ideas of some of its important representatives and fields of application. Begins with a concise history of evolutionary economics, then discusses its relationship with neoclassical economics, arguing that the two approaches are complementary. Discusses the firm from an evolutionary and neoclassical standpoint, then looks at modern model building in relation to Schumpeter's work and to technological change. Annotation copyrighted by Book News, Inc., Portland, OR
Book Synopsis Modern Evolutionary Economics by : Richard R. Nelson
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 286 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.
Book Synopsis Explaining Process and Change by : Ulrich Witt
Download or read book Explaining Process and Change written by Ulrich Witt and published by University of Michigan Press. This book was released on 1992 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: International experts discuss new applications for evolutionary economics
Book Synopsis Elgar Companion to Neo-Schumpeterian Economics by : Horst Hanusch
Download or read book Elgar Companion to Neo-Schumpeterian Economics written by Horst Hanusch and published by Edward Elgar Publishing. This book was released on 2007 with total page 1229 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Elgar Companion to Neo-Schumpeterian Economics is a cutting-edge collection of specially commissioned contributions highlighting not only the broad scope but also the common ground between all branches of this prolific and fast developing field of economics. For 25 years economists have been investigating industrial dynamics under the heading of neo-Schumpeterian economics, which has itself become a mature and widely acknowledged discipline in the fields of innovation, knowledge, growth and development economics. The Elgar Companion to Neo-Schumpeterian Economics surveys the achievements of the most visible scholars in this area. The contributions to the Companion give both a brief survey on the various fields of neo-Schumpeterian economics as well as insights into recent research at the scientific frontiers. The book also illustrates the potential of neo-Schumpeterian economics to overcome its so far self-imposed restriction to the domains of technology driven industry dynamics, and to become a comprehensive approach in economics suited for the analysis of development processes in all economic domains. Integrating both the public sector and financial markets, the book focusses on the co-evolutionary processes between the different domains. As a roadmap for the development of a comprehensive neo-Schumpeterian theory, the Companion will be an invaluable source of reference for researchers in the fields of industrial dynamics and economic growth, and academics and scholars of economics generally. PhD students will find the Companion an indispensable general introduction to the field of neo-Schumpeterian economics. It will also appeal to politicians and consultants engaged in national and international policy as the Companion deals with the highly important and ever topical phenomena of economic development.
Book Synopsis Evolutionary Concepts in Contemporary Economics by : Richard W. England
Download or read book Evolutionary Concepts in Contemporary Economics written by Richard W. England and published by University of Michigan Press. This book was released on 1994 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This anthology reports on a number of contemporary attempts to introduce evolutionary concepts into economic analysis.
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.
Book Synopsis Foundations of Economic Change by : Andreas Pyka
Download or read book Foundations of Economic Change written by Andreas Pyka and published by Springer. This book was released on 2017-11-15 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book illustrates the considerable advances in modern evolutionary economics and addresses core questions of economic behaviour, interaction of heterogeneous actors in uncertain environments and the possibility of aggregating observations on a macro-economic level. It presents the foundations of economic change as the major building blocks of an economic approach that focusses on complex processes driven by endogenous innovation as well as crisis. The theoretical considerations are complemented by econometric studies to demonstrate the relevance of evolutionary-economic thinking to improve our understanding of the most challenging issues related to economic growth and development.
Book Synopsis Applied Evolutionary Economics and the Knowledge-based Economy by : Andreas Pyka
Download or read book Applied Evolutionary Economics and the Knowledge-based Economy written by Andreas Pyka and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on knowledge-based economies and attempts to analyze dynamic innovation driven processes within those economies. It shows that evolutionary economics, and in particular the strand of applied industry and innovation studies often called Neo-Schumpeterian economics, has left the nursery of new academic approaches and is able to offer important insights for the understanding of socio-economic processes of change and development having a strong impact on economic reality all over the world. The contributions are summarized under four major sections knowledge and cognition, studies of knowledge-based industries, the geographical dimension of knowledge-based economies and measuring and modelling for knowledge-based economies and give a broad overview of the prolific research being undertaken in applied evolutionary economics. Students will find this book an invaluable resource for future research, as will researchers seeking an introduction to new methods and perspectives of analysis.
Book Synopsis Foundations of Post-Schumpeterian Economics by : Beniamino Callegari
Download or read book Foundations of Post-Schumpeterian Economics written by Beniamino Callegari and published by Routledge. This book was released on 2020-12-30 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: The neo-Schumpeterian interpretation dominating the field of evolutionary economics puts focus on technological innovation, Darwinian evolution and economic growth, and has proven to be fertile ground for the past forty years. However, as the evolutionary school attempts to engage with a world of inequality, financialization and economic fragility, the limits of such an interpretation begin to show. Contributing to the development of a more balanced post-Schumpeterian economics, this book offers a complementary interpretation of Schumpeter’s theory which is based on economic innovation, Bergsonian creative evolution and monetary mechanisms and institutions. The theoretical consequences of this new interpretation are significant and numerous. First, it leads to a conceptual separation of economic and technological innovation. Second, it offers a deeper integration of monetary and financial elements within the theory of the process of development, illustrating the adaptive and planning role provided by financial speculation under capitalist conditions. Third, it provides the foundations for a post-Schumpeterian theory of capitalist crisis, built on the relationship between innovation funding, the institutional development of banking and speculative credit creation. Finally, by discussing several key recent developments in evolutionary economics, the interpretation illustrates the opportunities unlocked by a pluralist approach to disciplinary development, aiming towards the development of a comprehensive post-Schumpeterian approach to economics. This text is essential reading for scholars and students of Schumpeter, evolutionary economics, post-Keynesian economics, institutional economics and all economists interested in the ontological, methodological and theoretical challenges posed by economic development.
Book Synopsis Marshall and Schumpeter on Evolution by : Yuichi Shionoya
Download or read book Marshall and Schumpeter on Evolution written by Yuichi Shionoya and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays offers a fresh and challenging interpretation which departs from the received views of two giants among the greatest economists of all times. Distinguished scholars of Marshall and Schumpeter engage in a lively discussion of their work and convincingly argue that, despite their differences, they shared a common drive towards a broader type of social science beyond economics. It is an intriguing account that will not fail to attract and fascinate the majority of readers. Maria Cristina Marcuzzo, Università di Roma, Italy Ever since the development of the theory of biological evolution in the middle of the nineteenth century, evolutionary doctrine has posed challenges to economics. These came directly from the work of Darwin and Huxley and indirectly through economic history and the juxtaposition of dynamics with comparative statics the approach widely adopted by economists by the end of the century. The eminent historians of economics, Yuichi Shionoya and Tamotsu Nishizawa, together with a distinguished team of specialists, have produced an important set of essays that examine the positions on evolution of Marshall and Schumpeter and the economists who surrounded them. This collection is a valuable contribution to the history of economics and is highly relevant to controversies that rage still in the economics discipline today. Craufurd Goodwin, Duke University, US Traditionally it was understood that while Marshall was the synthesizer of neoclassical economics, Schumpeter challenged the dynamic conception of the economy in place of the static structure of economics. While historians of economic thought rarely discuss the work of Alfred Marshall and Joseph Schumpeter jointly, the contributors to this book do exactly this from the perspective of evolutionary thought. This unique and original work contends that, despite the differences between Marshallian and Schumpeterian thinking, they both present formidable challenges to a broad type of social science beyond economics, particularly under the influence of the German historical school. In a departure from the received view on the nature of the works of Marshall and Schumpeter, the contributors explore their themes in terms of an evolutionary vision and method of evolution; social science and evolution; conceptions of evolution; and evolution and capitalism. This timely resource will provide a stimulus not only to Marshall and Schumpeter scholarship within the history of economic thought but also to the recent efforts of economists to explore a research field beyond mainstream equilibrium economics. It will therefore prove a fascinating read for academics, students and researchers of evolutionary and heterodox economics and historians of economic thought.
Book Synopsis The Evolution of Economic and Innovation Systems by : Andreas Pyka
Download or read book The Evolution of Economic and Innovation Systems written by Andreas Pyka and published by Springer. This book was released on 2015-03-03 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is at the cutting edge of the ongoing ‘neo-Schumpeterian’ research program that investigates how economic growth and its fluctuation can be understood as the outcome of a historical process of economic evolution. Much of modern evolutionary economics has relied upon biological analogy, especially about natural selection. Although this is valid and useful, evolutionary economists have, increasingly, begun to build their analytical representations of economic evolution on understandings derived from complex systems science. In this book, the fact that economic systems are, necessarily, complex adaptive systems is explored, both theoretically and empirically, in a range of contexts. Throughout, there is a primary focus upon the interconnected processes of innovation and entrepreneurship, which are the ultimate sources of all economic growth. Twenty two chapters are provided by renowned experts in the related fields of evolutionary economics and the economics of innovation.
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.
Book Synopsis Recent Advances in Neo-Schumpeterian Economics by : Andreas Pyka
Download or read book Recent Advances in Neo-Schumpeterian Economics written by Andreas Pyka and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This judicious selection of recent essays demonstrates the applicability of the fundamental principles of neo-Schumpeterian economics, namely, innovation and uncertainty. The authors demonstrate how neo-Schumpeterian economics is developing into a comprehensive economic theory encompassing industry, the public sector and financial markets. Neo-Schumpeterian economics has become a prolific field with a major orientation towards innovation-driven industrial dynamics. However, a truly comprehensive neo-Schumpeterian approach argues that innovation is also an important element in both the public and financial sectors. For example, a lack of public infrastructure or speculative bubbles in financial markets can hinder or even prevent economic development. The expert contributions to this book deal with the future orientation of the subject in terms of innovative performance in the industrial, financial and public sectors. Recent Advances in Neo-Schumpeterian Economics can be considered a first attempt to substantiate the comprehensive neo-Schumpeterian approach, of which Horst Hanusch has been a leading proponent. This unique and path-breaking book will be of great interest and value to researchers in the fields of innovation, industrial economics, financial markets and the public sector.
Book Synopsis The Foundations of Evolutionary Institutional Economics by : Manuel Scholz-Wackerle
Download or read book The Foundations of Evolutionary Institutional Economics written by Manuel Scholz-Wackerle and published by Routledge. This book was released on 2013-08-15 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generic institutionalism offers a new perspective on institutional economic change within an evolutionary framework. The institutional landscape shapes the social fabric and economic organization in manifold ways. The book elaborates on the ubiquity of such institutional forms with regards to their emergence, durability and exit in social agency-structure relations. Thereby institutions are considered as social learning environments changing the knowledge base of the economy along generic rule-sets in non-nomological ways from within. Specific attention is given to a theoretical structuring of the topic in ontology, heuristics and methodology. Part I introduces a generic naturalistic ontology by comparing prevalent ontological claims in evolutionary economics and preparing them for a broader pluralist and interdisciplinary discourse. Part II reconsiders these ontological claims and confronts it with prevalent heuristics, conceptualizations and projections of institutional change. In this respect the book revisits the institutional economic thought of Thorstein Veblen, Friedrich August von Hayek, Joseph Alois Schumpeter and Pierre Bourdieu. A synthesis is suggested in an application of the generic rule-based approach. Part III discusses the implementation of rule-based bottom-up models of institutional change and provides a basic prototype agent-based computational simulation. The evolution of power relations plays an important role in the programming of real-life communication networks. This notion characterizes the discussed policy realms (Part IV) of ecological and financial sustainability as tremendously complex areas of institutional change in political economy, leading to the concluding topic of democracy in practice. The novelty of this approach is given by its modular theoretical structure. It turns out that institutional change is carried substantially by affective social orders in contrast to rational orders as communicated in orthodox economic realms. The characteristics of affective orders are derived theoretically from intersections between ontology and heuristics, where interdependencies between instinct, cognition, rationality, reason, social practice, habit, routine or disposition are essential for the embodiment of knowledge. This kind of research indicates new generic directions to study social learning in particular and institutional evolution in general.
