Recently, evolutionary theories of economic and technological change have attracted a considerable amount of attention which reflects the problems encountered by mainstream analysis of dynamic phenomena and quantitative change. This book, originally published in 1991, develops the debate and draws on the concepts of evolutionary biology, nonequilibrium thermodynamics, systems and organization theory. While recognizing that new technology is not the cause of quantitative change, the editors claim it should play a more central role in economic theory and policy. At the same time, the ground is laid for a more generalized concept of innovation and experimentation and their relation to routine activities. The book is intended for economists.
1. Present Development and Trends in Evolutionary Economics P. P. Saviotti and J. S. Metcalfe 2. Is There a General Theory of Biological Evolution? G. S. Mani 3. Evolution in Biology, Physics and Economics: A Conceptual Analysis M. Faber and J. L. R. Proops 4. Organisation and Information in the Evolution of Economic Systems N. Clark 5. Evolution and Intention in Economic Theory G. Hodgson 6. On Some Notions of Irreversibility in Economics G. Dosi and J. S. Metcalfe 7. Evolutionary Human Systems: Learning, Ignorance and Subjectivity P. M. Allen and M. Lesser 8. The Role of Variety in Econonmic and Technological Development P. P. Saviotti 9. A Computer Simulation of Economic Growth and Technical Progress in a Multisectoral Economy S. Smith 10. Econometric Methodology in an Environemnt of Evolutionary Change J. Foster 11. Innovation Policy in an Evolutionary Context K. Smith