Evolutionary and Neo-Schumpeterian Approaches to Economics / Edition 1

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This volume presents the interrelationships and possible connecting threads between two recent attempts within economic theory to step out of the mainstream of conventional neoclassical wisdom: evolutionary and neo-Schumpeterian theory. Neo-Schumpeterian and evolutionary approaches to economics present a challenge to conventional neoclassical orthodoxy. They provide new insights into how markets function, how innovations are carried out, how technologies change, and how growth occurs in existing real economies. The two fields of theory and research in which these approaches have proven especially fruitful are the role of innovation for economic change and development and the theory of the firm. The wide range of topics dealt with in this volume provides further proof of the versatility and fruitfulness of these approaches.

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Product Details

  • ISBN-13: 9780792393856
  • Publisher: Springer Netherlands
  • Publication date: 3/28/1994
  • Series: Recent Economic Thought Series, #36
  • Edition description: 1994
  • Edition number: 1
  • Pages: 326
  • Product dimensions: 6.62 (w) x 9.60 (h) x 0.95 (d)

Table of Contents

Ch. 1 The Neo-Schumpeterian and Evolutionary Approach to Economics - An Introduction 1
I Evolutionary Theory 9
Ch. 2 What is Evolutionary Economics? 11
Ch. 3 The Unit that Evolves: Linking Self-Reproduction and Self-Interest 49
Ch. 4 On the Nature of Economic Evolution: John R. Commons and the Metaphor of Artificial Selection 65
II Neo-Schumpeterian Dynamics 123
Ch. 5 The Phenomenon of Economic Change: Neoclassical vs. Schumpeterian Approaches 125
Ch. 6 The Theory of the Firm and the Theory of Economic Growth 173
Ch. 7 Evolutionary Regimes and Industrial Dynamics 203
Ch. 8 The Role of Firm Difference in an Evolutionary Theory of Technical Advance 231
III Critique and New Challenges 243
Ch. 9 The Integration of Theory and History: Methodology and Ideology in Schumpeter's Economics 245
Ch. 10 Neo-Schumpeterians and Economic Theory 265
Ch. 11 Rethinking Economics: From GNP Growth to Ecological Sustainability 277
Ch. 12 Innovations, Markets and Institutions: An Historical Approach 301
Contributing Authors 321
Index 323
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