Evolutionary and Neo-Schumpeterian Approaches to Economics
Evolutionary and Neo-Schumpeterian Approaches to Economics

Author: Lars Magnusson

Publisher: Springer

Published: 2007-11-23

Total Pages: 323

ISBN-13: 0585351554

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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).

Elgar Companion to Neo-Schumpeterian Economics
Elgar Companion to Neo-Schumpeterian Economics

Author: Horst Hanusch

Publisher: Edward Elgar Publishing

Published: 2007

Total Pages: 1229

ISBN-13: 1847207014

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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.

An Evolutionary Theory of Economic Change
An Evolutionary Theory of Economic Change

Author: Richard R. Nelson

Publisher: Harvard University Press

Published: 1985-10-15

Total Pages: 456

ISBN-13: 9780674041431

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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 and Neo-Schumpeterian Approaches to Economics
Evolutionary and Neo-Schumpeterian Approaches to Economics

Author: Lars Magnusson

Publisher: Springer

Published: 2007-11-23

Total Pages: 323

ISBN-13: 0585351554

DOWNLOAD EBOOK

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).

Understanding Economic Change
Understanding Economic Change

Author: Ulrich Witt

Publisher: Cambridge University Press

Published: 2019

Total Pages: 411

ISBN-13: 1107136202

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Shows how thinking in evolutionary terms enhances our understanding of the economic and social change taking place at all levels.

The Evolution of Economic and Innovation Systems
The Evolution of Economic and Innovation Systems

Author: Andreas Pyka

Publisher: Springer

Published: 2015-03-03

Total Pages: 637

ISBN-13: 3319132997

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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.

The New Evolutionary Economics
The New Evolutionary Economics

Author: Kurt Dopfer

Publisher:

Published: 2014

Total Pages: 0

ISBN-13: 9781843767268

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This three volume set gathers together selected key articles in evolutionary economics, ordering these into domains of micro analysis - concerned with agents - meso analysis - which is concerned with rule populations and trajectories - and macro analysis, which is about the structure and development of the whole economy. This authoritative collection, with an original introduction by the editors, will be of interest to scholars and researchers seeking to understand how evolutionary economics fits together and who seek to advance such an integrated approach.

Modern Evolutionary Economics
Modern Evolutionary Economics

Author: Richard R. Nelson

Publisher: Cambridge University Press

Published: 2018-05-03

Total Pages: 285

ISBN-13: 1108660789

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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.

The Evolutionary Foundations of Economics
The Evolutionary Foundations of Economics

Author: Kurt Dopfer

Publisher: Cambridge University Press

Published: 2005-05-23

Total Pages: 604

ISBN-13: 9781139443234

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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.

Coevolution in Economic Systems
Coevolution in Economic Systems

Author: Isabel Almudi

Publisher: Cambridge University Press

Published: 2021-06-10

Total Pages: 98

ISBN-13: 1108854990

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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.