The Evolving Economy

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The Economy As An Evolving Complex System II

Author : W. Brian Arthur
Publisher : CRC Press
ISBN 13 : 0429976267
Total Pages : 437 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis The Economy As An Evolving Complex System II by : W. Brian Arthur

Download or read book The Economy As An Evolving Complex System II written by W. Brian Arthur and published by CRC Press. This book was released on 2018-05-04 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.

Economics Evolving

Author : Agnar Sandmo
Publisher : Princeton University Press
ISBN 13 : 0691148422
Total Pages : 502 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Economics Evolving by : Agnar Sandmo

Download or read book Economics Evolving written by Agnar Sandmo and published by Princeton University Press. This book was released on 2011-01-17 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the history of economic thought, focusing on the development of economic theory from Adam Smith's 'Wealth of Nations' to the late twentieth century. The text concentrates on the most important figures in the history of the economics. The book examines how important economists have reflected on the sometimes conflicting goals of efficient resource use and socially acceptable income distribution.--[book cover].

The Evolution of Economic Ideas

Author : Phyllis Deane
Publisher : Cambridge University Press
ISBN 13 : 9780521293150
Total Pages : 260 pages
Book Rating : 4.2/5 (931 download)

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Book Synopsis The Evolution of Economic Ideas by : Phyllis Deane

Download or read book The Evolution of Economic Ideas written by Phyllis Deane and published by Cambridge University Press. This book was released on 1978-10-05 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to the history of economics for undergraduate students. Puts some of the current theoretical controversies into long-term perspective by tracing their historical antecedents and parallels.

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.

The Evolution of Economic Institutions

Author : Geoffrey Martin Hodgson
Publisher : Edward Elgar Publishing
ISBN 13 : 1847207030
Total Pages : 314 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis The Evolution of Economic Institutions by : Geoffrey Martin Hodgson

Download or read book The Evolution of Economic Institutions written by Geoffrey Martin Hodgson and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents in a unique manner the momentum the institutionalist, evolutionary research agenda has regained over the past two decades. The thought-provoking contributions come from prominent authors with a rather heterogeneous theoretical background. Nonetheless, they all convene in elaborating on issues that have always been at the core of the institutionalist agenda and show how these issues relate to cutting edge research in modern economics. Ulrich Witt, Max Planck Institute of Economics, Jena, Germany This excellent EAEPE Reader brings together a range of perspectives on the role of institutions in economics. It is very well structured, with parts on microeconomics, macroeconomics, markets and economic evolution. Each part contains chapters written by renowned experts in their respective fields and there is an authoritative introductory chapter by the editor. This Reader is invaluable for economics students and academic economists wishing to better understand how institutions and individual behaviours interact in the economic system. Much of standard economic analysis either ignores institutions or makes overly restrictive assumptions about them the authors in this book show, persuasively, that economics, without an adequate treatment of institutions and institutional change, is of very little scientific worth. John Foster, The University of Queensland, Australia This is a great set of essays. To get the richness they contain, the reader must be already familiar with the broad orientation of the literature on economic institutions. Given that background, I can think of no collection or essays that frame, illuminate, and probe modern institutional economics as well as does this set. Geoffrey Hodgson, who chose the collection, and the authors of the essays, are to be congratulated and thanked. Richard R. Nelson, Columbia University, US It is now widely acknowledged that institutions are a crucial factor in economic performance. Major developments have been made in our understanding of the nature and evolution of economic institutions in the last few years. This book brings together some key contributions in this area by leading internationally renowned scholars including Paul A. David, Christopher Freeman, Alan P. Kirman, Jan Kregel, Brian J. Loasby, J. Stanley Metcalfe, Bart Nooteboom and Ugo Pagano. This essential reader covers topics such as the relationship between institutions and individuals, institutions and economic development, the nature and role of markets, and the theory of institutional evolution. The book not only outlines cutting-edge developments in the field but also indicates key directions of future research for institutional and evolutionary economics. Vital reading on one of the most dynamic and rapidly growing areas of research today, The Evolution of Economic Institutions will be of great interest to researchers, students and lecturers in economics and business studies.

The Evolving Economy

Author : Ulrich Witt
Publisher :
ISBN 13 : 9781845428327
Total Pages : 0 pages
Book Rating : 4.4/5 (283 download)

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Book Synopsis The Evolving Economy by : Ulrich Witt

Download or read book The Evolving Economy written by Ulrich Witt and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this important collection of essays, Ulrich Witt illustrates how the evolutionary approach can reveal not only where change comes from, and how it happens, but also where it will lead.

Globalization and History

Author : Kevin H. O'Rourke
Publisher : MIT Press
ISBN 13 : 9780262650595
Total Pages : 364 pages
Book Rating : 4.6/5 (55 download)

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Book Synopsis Globalization and History by : Kevin H. O'Rourke

Download or read book Globalization and History written by Kevin H. O'Rourke and published by MIT Press. This book was released on 2001-01-26 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. Globalization is not a new phenomenon, nor is it irreversible. In Gobalization and History, Kevin O'Rourke and Jeffrey Williamson present a coherent picture of trade, migration, and international capital flows in the Atlantic economy in the century prior to 1914—the first great globalization boom, which anticipated the experience of the last fifty years. The authors estimate the extent of globalization and its impact on the participating countries, and discuss the political reactions that it provoked. The book's originality lies in its application of the tools of open-economy economics to this critical historical period—differentiating it from most previous work, which has been based on closed-economy or single-sector models. The authors also keep a close eye on globalization debates of the 1990s, using history to inform the present and vice versa. The book brings together research conducted by the authors over the past decade—work that has profoundly influenced how economic history is now written and that has found audiences in economics and history, as well as in the popular press.

The Evolution of the World Economy

Author : Terutomo Ozawa
Publisher : Edward Elgar Publishing
ISBN 13 : 1781003319
Total Pages : 225 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis The Evolution of the World Economy by : Terutomo Ozawa

Download or read book The Evolution of the World Economy written by Terutomo Ozawa and published by Edward Elgar Publishing. This book was released on 2016-03-25 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is near a critical crossroads, as a rising China, the greatest-ever beneficiary of US-led capitalism, dreams to replace America's supremacy as a new hegemonic power with a non-liberal world order. This third volume of the trilogy on reformulating the ‘flying-geese’ theory explains how capitalism has changed industrial structures across the world. It asks whether the ‘flying-geese’ formation will survive the changes that have produced the East Asian miracle, and – as hoped – spread to Africa. Terutomo Ozawa’s reformulated 'flying-geese' theory explains structural changes as an innovation-driven, ratcheting-up process of economic growth and shows that market-driven multinational corporations are key players for a successful ‘flying-geese’ formation and structural transformation. The book argues that the ‘ladder’ of economic development must be conceived as a double-helix with inter- and intra-industry rungs, the latter embedding cross-border supply chains and adaptive innovations. A thorough exploration of the structural changes under Pax Britannica and Pax Americana – moving from ‘kicking away the ladder’ from emerging economies to then providing it – demonstrates that this trend engenders multinational corporations that can facilitate structural transformation, particularly in catching-up economies. Ozawa shows that China is now in the critical transitional period that requires more sophisticated institutional, socio-political setups, as well as more advanced knowledge and ethics to move from the lower to the higher rungs. This enlightening, accessible and timely conclusion to Ozawa’s trilogy will be of great interest to many, particularly those specialising in international business, economics, political science, and international relations. Academics and practitioners alike will find this an invaluable resource.

The Evolution of Economic Systems

Author : Barry Stewart Clark
Publisher : Oxford University Press, USA
ISBN 13 : 9780190260590
Total Pages : 0 pages
Book Rating : 4.2/5 (65 download)

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Book Synopsis The Evolution of Economic Systems by : Barry Stewart Clark

Download or read book The Evolution of Economic Systems written by Barry Stewart Clark and published by Oxford University Press, USA. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most current text of its kind, The Evolution of Economic Systems: Varieties of Capitalism in the Global Economy explores the effects of politics and culture on the nature of national economic systems. Author Barry Clark distills recent academic work in such areas as comparative political economy, varieties of capitalism, new and old institutional economics, new economic sociology, and social systems of production, presenting the material in a conversational manner that makes it accessible for undergraduate students.

Evolving Households

Author : Jeremy Greenwood
Publisher : MIT Press
ISBN 13 : 0262350866
Total Pages : 337 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Evolving Households by : Jeremy Greenwood

Download or read book Evolving Households written by Jeremy Greenwood and published by MIT Press. This book was released on 2019-01-29 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transformative effect of technological change on households and culture, seen from a macroeconomic perspective through simple economic models. In Evolving Households, Jeremy Greenwood argues that technological progress has had as significant an effect on households as it had on industry. Taking a macroeconomic perspective, Greenwood develops simple economic models to study such phenomena as the rise in married female labor force participation, changes in fertility rates, the decline in marriage, and increased longevity. These trends represent a dramatic transformation in everyday life, and they were made possible by advancements in technology. Greenwood also addresses how technological progress can cause social change. Greenwood shows, for example, how electricity and labor-saving appliances freed women from full-time household drudgery and enabled them to enter the labor market. He explains that fertility dropped when higher wages increased the opportunity cost of having children; he attributes the post–World War II baby boom to a combination of labor-saving household technology and advances in obstetrics and pediatrics. Marriage rates declined when single households became more economically feasible; people could be more discriminating in their choice of a mate. Technological progress also affects social and cultural norms. Innovation in contraception ushered in a sexual revolution. Labor-saving technological progress at home, together with mechanization in industry that led to an increase in the value of brain relative to brawn for jobs, fostered the advancement of women's rights in the workplace. Finally, Greenwood attributes increased longevity to advances in medical technology and rising living standards, and he examines healthcare spending, the development of new drugs, and the growing portion of life now spent in retirement.

The Economy As An Evolving Complex System

Author : Santa Fe Instit
Publisher : Addison Wesley Publishing Company
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Economy As An Evolving Complex System by : Santa Fe Instit

Download or read book The Economy As An Evolving Complex System written by Santa Fe Instit and published by Addison Wesley Publishing Company. This book was released on 1988-01-21 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proceeds from a meeting at the Santa Fe Institute where economists and physical and biological scientists came together to discuss a conceptual framework incorporating a more appropriate mat

Invention & Reinvention

Author : Mary Lindenstein Walshok
Publisher : Stanford University Press
ISBN 13 : 080478888X
Total Pages : 246 pages
Book Rating : 4.8/5 (47 download)

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Book Synopsis Invention & Reinvention by : Mary Lindenstein Walshok

Download or read book Invention & Reinvention written by Mary Lindenstein Walshok and published by Stanford University Press. This book was released on 2013-12-02 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A fascinating story of regeneration. Using a social history perspective over different periods, it offers a wonderful case study of urban reinvention.” —Shiri M. Breznitz, Economic Geography Formerly prosperous cities across the United States, struggling to keep up with an increasingly global economy and the continued decline of post-war industries like manufacturing, face the issue of how to adapt to today’s knowledge economy. In Invention and Reinvention, authors Mary Walshok and Abraham Shragge chronicle San Diego’s transformation from a small West Coast settlement to a booming military metropolis and then to a successful innovation hub. This instructive story of a second-tier city that transformed its core economic identity can serve as a rich case and a model for similar regions. Stressing the role that cultural values and social dynamics played in its transition, the authors discern five distinct, recurring factors upon which San Diego capitalized at key junctures in its economic growth. San Diego—though not always a star city—has been able to repurpose its assets and realign its economic development strategies continuously in order to sustain prosperity. Chronicling over a century of adaptation, this book offers a lively and penetrating tale of how one city reinvented itself to meet the demands of today’s economy, lighting the way for others. “This is an important, pioneering book that contributes to our unique understanding of how one place, San Diego, has achieved what most places want: the capacity to evolve and meet the challenges of a constantly changing global economic environment. Walshok and Shragge help us understand why some places thrive while others wither.” —David B. Audretsch, author of Everything in Its Place

Economists and the Economy

Author : Roger Backhouse
Publisher : Transaction Publishers
ISBN 13 : 9781412822176
Total Pages : 276 pages
Book Rating : 4.8/5 (221 download)

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Book Synopsis Economists and the Economy by : Roger Backhouse

Download or read book Economists and the Economy written by Roger Backhouse and published by Transaction Publishers. This book was released on with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists and the Economy seeks to explain how economic theories are formed in response to specific incidents affecting economic events. The work covers both major historical events, such as the English Civil War, the Industrial Revolution, and the Great Depression, and intellectual developments in economic thought. Among the theories examined are neoclassical growth theory and the Harrod-Domar model.

The Evolving Global Economy

Author : Ken'ichi Ōmae
Publisher : Harvard Business Review Press
ISBN 13 :
Total Pages : 328 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis The Evolving Global Economy by : Ken'ichi Ōmae

Download or read book The Evolving Global Economy written by Ken'ichi Ōmae and published by Harvard Business Review Press. This book was released on 1995 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: A compendium of 16 articles from the Harvard Business Review that illuminates the broad effort to rethink across-border flows of economic activity, The Evolving Global Economy will help managers understand how complex interactions of the participants affect their own businesses and contribute to the ever-changing landscape of the global economy.

Creative Industries and Economic Evolution

Author : Jason Potts
Publisher : Edward Elgar Publishing
ISBN 13 : 0857930702
Total Pages : 241 pages
Book Rating : 4.8/5 (579 download)

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Book Synopsis Creative Industries and Economic Evolution by : Jason Potts

Download or read book Creative Industries and Economic Evolution written by Jason Potts and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful book offers a new way of looking at the arts, culture and the creative industries from the perspective of evolutionary economics. The creative industries are key drivers of modern economies. While economic analysis has traditionally advanced a market-failure model of arts and culture, this book argues for an evolutionary market dynamics or innovation-based approach. Jason Potts explores theoretical and conceptual aspects of an evolutionary economic approach to the study of the creative economy. Topics include creative businesses and labour markets, social networks, innovation processes and systems, institutions, and the role of creative industries in market dynamics and economic growth.

Workers and the Evolving Economy of the Eighties

Author : United States. Congress. Senate. Committee on Labor and Human Resources
Publisher :
ISBN 13 :
Total Pages : 626 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Workers and the Evolving Economy of the Eighties by : United States. Congress. Senate. Committee on Labor and Human Resources

Download or read book Workers and the Evolving Economy of the Eighties written by United States. Congress. Senate. Committee on Labor and Human Resources and published by . This book was released on 1981 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Evolution of Economic Thought

Author : Stanley L. Brue
Publisher : Thomson South-Western
ISBN 13 : 9781133434900
Total Pages : 580 pages
Book Rating : 4.4/5 (349 download)

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Book Synopsis The Evolution of Economic Thought by : Stanley L. Brue

Download or read book The Evolution of Economic Thought written by Stanley L. Brue and published by Thomson South-Western. This book was released on 2013 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook presents the history of economics and the philosophies that drive the economic way of thinking. It explains the ideas of the great economic thinkers and their logical connections to the world of today and tomorrow.