Understanding Economic Change

Advances in Evolutionary Economics

Ulrich Witt, Andreas Chai (Griffith University, Queensland)

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English

Cambridge University Press
29 November 2018

Economic growth; Development economics; Political economy; Economic history; Entrepreneurship

Although the economy has always been changing, ever more innovations now seem to accelerate the transformation process. Are there any laws governing the incessant global change? Does it accord with our intentions and desires and make us happier? Do our institutions and our democracies cope with the challenges? How does economic theory explain what is going on? In this volume, experts in the field discuss the advances that evolutionary economics has made in exploring questions like these. The broad range of topics include a review of the development of the field: its conceptual and methodological characteristics are outlined; problems posed by macroeconomic evolution and the institutional challenges are highlighted; and, last but not least, the implications of the evolution of the economy for wellbeing and sustainability are addressed. Taken together, the contributions demonstrate the potential of an evolutionary paradigm for making sense of economic change and for assessing its consequences.

Edited by: Ulrich Witt, Andreas Chai (Griffith University, Queensland)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm, Spine: 25mm
Weight: 700g
ISBN: 9781107136205
ISBN 10: 1107136202
Pages: 408
Publication Date: 29 November 2018
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Ulrich Witt is Past Director of the Evolutionary Economics Group at the Max Planck Institute of Economics in Jena, Germany. He has published a vast number of articles and books on evolutionary economics and is Editor-in-chief of the Journal of Bioeconomics. Andreas Chai is an applied economist and Head of Economics and Business Statistics at Griffith University, Australia. Andreas has published in various economic journals, including the Journal of Economic Perspectives and the Cambridge Journal of Economics.

Reviews for Understanding Economic Change: Advances in Evolutionary Economics

This welcome collection of essays offers a rich perspective on the history and philosophy of evolutionary economics. It delves deep into core themes such as generalized Darwinism, institutions and bounded rationality, long-run economic development and evolutionary welfare theory, while also offering original applications to land use conflicts and unsustainable consumption. Jeroen van den Bergh, ICREA Research Professor, Universitat Aut-noma de Barcelona