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Understanding economic change: advances in evolutionary economics

Contributor(s): Witt, Ulrich [Editor] | Chai, Andreas [Editor].
Material type: materialTypeLabelBookPublisher: Cambridge Cambridge University Press 2018Description: xii, 398p. With index.ISBN: 9781107136205.Subject(s): Evolutionary economics | Darwinism | Equilibrium and equilibrationDDC classification: 330.1 Summary: 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. https://www.cambridge.org/core/books/understanding-economic-change/A7276D6DED0E78ABF7B468ABF151C882#fndtn-information
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Table ofContents

Part I - Introduction

1 - Evolutionary Economics
Taking Stock Of Its Progress And Emerging Challenges
By Ulrich Witt, Andreas Chai

Part II - Conceptual and Methodological Problems

2 - Missed Connections and Opportunities Forgone
A Counterfactual History Of Twentieth Century Economics
By Brian J. Loasby

3 - Science, Technology, and Knowledge
What Economic Historians Can Learn From An Evolutionary Approach
By Joel Mokyr

4 - Generalized Darwinism in Evolutionary Economics
The Devil Is In The Detail
By Jack Vromen

Part III - Perspectives on Evolutionary Macroeconomics

5 - Macroeconomic Evolution
Long Run Development And Short Run Policy
By Richard H. Day

6 - Evolutionary Micro-Founded Technical Change and the Kaldor-Verdoorn Law
Estimates From An Artificial World

Part IV - Advances in Explaining and Assessing Institutional Evolution

7 - Democracy, Rationality and Religion
By Dennis C. Mueller

8 - On the Evolution of Organisational Governance
Divided Governance And Survival In The Long Run
By Roger D. Congleton

9 - Strategic Interaction and Externalities
FD Games And Pollution
By Reinoud Joosten

10 - Fairness in Urban Land Use
An Evolutionary Contribution To Law And Economics
By Christian Schubert

Part V - Evolutionary Perspectives on Welfare and Sustainability

11 - As Innovations Drive Economic Change, Do They Also Improve Our Welfare?
By Martin Binder, Ulrich Witt

12 - Sustainable Consumption Patterns and the Malleability of Consumer Preferences
An Evolutionary Perspective
By Andreas Chai

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.

https://www.cambridge.org/core/books/understanding-economic-change/A7276D6DED0E78ABF7B468ABF151C882#fndtn-information

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