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The traditional role of evolutionary theory in the social sciences has been to explain the existence of an object in terms of the survival of the fittest. In economics this approach has acted as a justification for hypotheses such as profit maximisation, or the existence of institutions in terms of their overall efficiency. This volume challenges that view and argues that one of the first tasks of economic theory should be to explain the enormous diversity of institutional arrangements that has characterised human societies.
Book Synopsis The Evolution of Economic Diversity by : Antonio Nicita
Download or read book The Evolution of Economic Diversity written by Antonio Nicita and published by Routledge. This book was released on 2013-12-16 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: The traditional role of evolutionary theory in the social sciences has been to explain the existence of an object in terms of the survival of the fittest. In economics this approach has acted as a justification for hypotheses such as profit maximisation, or the existence of institutions in terms of their overall efficiency. This volume challenges that view and argues that one of the first tasks of economic theory should be to explain the enormous diversity of institutional arrangements that has characterised human societies.
'Ecological and economic systems share some fundamental characteristics that Clem Tisdell has beautifully illuminated. He has given us a much better handle on the roles of competition, diversity, evolution and sustainability in complex, interdependent ecological and economic systems. Our ability to build a sustainable and desirable future fundamentally depends on this integrated understanding.' – Robert Costanza, Portland State University, US This thought-provoking book explores the influences of market competition and diverse behaviours of economic agents on economic performance, particularly dynamic economic performance. Clem Tisdell illustrates – within evolutionary, dynamic and static contexts – how diversity can improve or impede economic performance. He addresses the fact the role of diversity in improving economic performance has been neglected by economic theorists by making economic diversity a focal point of economic analysis. In particular, special attention is given to the value of economic diversity and economic imperfections in improving the performance of economic processes in particular identified situations. Limitations of using market-like mechanisms for managing public bodies and business firms are discussed and the value of business cooperation (economic mutualism) as a means for improving economic performance is examined. It is also observed that as economies develop, different forms of economic competition and business cooperation evolve. Challenging yet accessible, this book will prove a stimulating read for academics and students in the fields of economics, industrial organization and business and management.
Book Synopsis Competition, Diversity and Economic Performance by : C. A. Tisdell
Download or read book Competition, Diversity and Economic Performance written by C. A. Tisdell and published by Edward Elgar Publishing. This book was released on 2013-02-01 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Ecological and economic systems share some fundamental characteristics that Clem Tisdell has beautifully illuminated. He has given us a much better handle on the roles of competition, diversity, evolution and sustainability in complex, interdependent ecological and economic systems. Our ability to build a sustainable and desirable future fundamentally depends on this integrated understanding.' – Robert Costanza, Portland State University, US This thought-provoking book explores the influences of market competition and diverse behaviours of economic agents on economic performance, particularly dynamic economic performance. Clem Tisdell illustrates – within evolutionary, dynamic and static contexts – how diversity can improve or impede economic performance. He addresses the fact the role of diversity in improving economic performance has been neglected by economic theorists by making economic diversity a focal point of economic analysis. In particular, special attention is given to the value of economic diversity and economic imperfections in improving the performance of economic processes in particular identified situations. Limitations of using market-like mechanisms for managing public bodies and business firms are discussed and the value of business cooperation (economic mutualism) as a means for improving economic performance is examined. It is also observed that as economies develop, different forms of economic competition and business cooperation evolve. Challenging yet accessible, this book will prove a stimulating read for academics and students in the fields of economics, industrial organization and business and management.
In his book "Jurassic Park" (and in the movie based on the book), Michael Crichton describes a crazed professor who through techniques of genetic engineering manages to recreate the dinosaurs and giant ferns of 65 million years past. Once the giant Tyrannosaurus Rex is brought to life. a powerful dynamics sets in: evolution. The prehistoric world embarks on a collision course with man. Researching his book, Crichton had been reading up on paleontology and on the mathematical theory of evolution, catastrophes, and chaos. Crichton explains some of the twists of nonlinear mathematics that are rewriting not only thermodynamics, physics, and chemistry (that all grapple with evolving and turbulent processes) but also paleontology, genetics, medicine and even anthropology. Collapse and chaos is not limited to prehistoric animal kingdoms and ancient civilizations. The collapse of the Soviet Union and the political and economic chaos in its aftermath demonstrate that modern civilizations are just as vulnerable. This book aims at reexamining some main portions of the discipline of economics from the point of view of economic change and creativity. There are two aspects to this perspective. First, diversity and complexity. The range of different kinds of high technology products available to consumers and producers increases rapidly. Each product is the result of a long and complex production hierarchy. As these hierarchies grow, they deliver ever more diversified and complex high tech goods. Other hierarchies fall by the wayside.
Book Synopsis The Diversity, Complexity, and Evolution of High Tech Capitalism by : Sten A. Thore
Download or read book The Diversity, Complexity, and Evolution of High Tech Capitalism written by Sten A. Thore and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his book "Jurassic Park" (and in the movie based on the book), Michael Crichton describes a crazed professor who through techniques of genetic engineering manages to recreate the dinosaurs and giant ferns of 65 million years past. Once the giant Tyrannosaurus Rex is brought to life. a powerful dynamics sets in: evolution. The prehistoric world embarks on a collision course with man. Researching his book, Crichton had been reading up on paleontology and on the mathematical theory of evolution, catastrophes, and chaos. Crichton explains some of the twists of nonlinear mathematics that are rewriting not only thermodynamics, physics, and chemistry (that all grapple with evolving and turbulent processes) but also paleontology, genetics, medicine and even anthropology. Collapse and chaos is not limited to prehistoric animal kingdoms and ancient civilizations. The collapse of the Soviet Union and the political and economic chaos in its aftermath demonstrate that modern civilizations are just as vulnerable. This book aims at reexamining some main portions of the discipline of economics from the point of view of economic change and creativity. There are two aspects to this perspective. First, diversity and complexity. The range of different kinds of high technology products available to consumers and producers increases rapidly. Each product is the result of a long and complex production hierarchy. As these hierarchies grow, they deliver ever more diversified and complex high tech goods. Other hierarchies fall by the wayside.
These essays deal with the reconstruction of political economy as an evolutionary science. Four themes dominate the book: theoretical foundations; policy-making; empirical enquiry; and modelling. Other issues addressed include industrial/marketing restructuring and ecological sustainability.
Book Synopsis The Political Economy of Diversity by : Robert Delorme
Download or read book The Political Economy of Diversity written by Robert Delorme and published by Edward Elgar Publishing. This book was released on 1994 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays deal with the reconstruction of political economy as an evolutionary science. Four themes dominate the book: theoretical foundations; policy-making; empirical enquiry; and modelling. Other issues addressed include industrial/marketing restructuring and ecological sustainability.
Biological and economical systems have many aspects in common because they follow the same basic principles of evolution. One of the most precious messages from the field of biology is to admire and value the diversity of our planet. 'The Principle of Diversity' is a scientific and philosophical analysis that combines theoretical and practical insights of the phenomena occurring in both, biology and economics. Accordingly, good business administration is only possible with full knowledge of The Magic Triangle of the Economy.
Book Synopsis The Principle of Diversity by : Axel Tiessen Favier
Download or read book The Principle of Diversity written by Axel Tiessen Favier and published by . This book was released on 2004 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Biological and economical systems have many aspects in common because they follow the same basic principles of evolution. One of the most precious messages from the field of biology is to admire and value the diversity of our planet. 'The Principle of Diversity' is a scientific and philosophical analysis that combines theoretical and practical insights of the phenomena occurring in both, biology and economics. Accordingly, good business administration is only possible with full knowledge of The Magic Triangle of the Economy.
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.
Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
The book also examines the effects of early legal systems.
Book Synopsis The Evolution of a Nation by : Daniel Berkowitz
Download or read book The Evolution of a Nation written by Daniel Berkowitz and published by Princeton University Press. This book was released on 2012 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book also examines the effects of early legal systems.
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.
Book Synopsis Evolutionary Theories of Economic and Technological Change by : (Pier) Paolo Saviotti
Download or read book Evolutionary Theories of Economic and Technological Change written by (Pier) Paolo Saviotti and published by Routledge. This book was released on 2018-03-29 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
This book challenges the static, ahistorical models on which Economics continues to rely. These models presume that markets operate on a "frictionless" plane where abstract forces play out independent of their institutional and spatial contexts, and of the influences of the past. In reality, at any point in time exogenous factors are themselves outcomes of complex historical processes. They are shaped by institutional and spatial contexts, which are "carriers of history," including past economic dynamics and market outcomes. To examine the connections between gradual, evolutionary change and more dramatic, revolutionary shifts the text takes on a wide array of historically salient economic questions—ranging from how formative, European encounters reconfigured the political economies of indigenous populations in Africa, the Americas, and Australia to how the rise and fall of the New Deal order reconfigured labor market institutions and outcomes in the twentieth century United States. These explorations are joined by a common focus on formative institutions, spatial structures, and market processes. Through historically informed economic analyses, contributors recognize the myriad interdependencies among these three frames, as well as their distinct logics and temporal rhythms.
Book Synopsis Economic Evolution and Revolution in Historical Time by : Paul W. Rhode
Download or read book Economic Evolution and Revolution in Historical Time written by Paul W. Rhode and published by Stanford University Press. This book was released on 2011-01-28 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book challenges the static, ahistorical models on which Economics continues to rely. These models presume that markets operate on a "frictionless" plane where abstract forces play out independent of their institutional and spatial contexts, and of the influences of the past. In reality, at any point in time exogenous factors are themselves outcomes of complex historical processes. They are shaped by institutional and spatial contexts, which are "carriers of history," including past economic dynamics and market outcomes. To examine the connections between gradual, evolutionary change and more dramatic, revolutionary shifts the text takes on a wide array of historically salient economic questions—ranging from how formative, European encounters reconfigured the political economies of indigenous populations in Africa, the Americas, and Australia to how the rise and fall of the New Deal order reconfigured labor market institutions and outcomes in the twentieth century United States. These explorations are joined by a common focus on formative institutions, spatial structures, and market processes. Through historically informed economic analyses, contributors recognize the myriad interdependencies among these three frames, as well as their distinct logics and temporal rhythms.
. . . in my opinion. . . readers. . . should find in this book both several remarkable insights concerning basic statements of evolutionary theorising and concrete results that can be acquired by applying such basic statements in computer simulation models and in various fields of analysis. Mauro Lombardi, The Journal of Artificial Societies and Social Simulation Complexity theory first emerged three decades or so ago, but only recently has its potential relevance for the study of social and economic phenomena really begun to be recognised. This timely collection of essays clearly demonstrates, both conceptually and empirically, how complexity theory ideas can provide considerable insight into how socio-economic systems cities, societies, industries, technologies and economies evolve and adapt over time. It is essential reading for anyone interested in how order and evolution emerge out of the seemingly chaotic socio-economic world around us. Ron Martin, University of Cambridge, UK I read Complexity and Co-Evolution with real pleasure. These authors have done the near impossible they have made the concepts of a new and evolving science accessible to people who can apply it in practical ways. The clarity of writing reflects the sort of confidence only the truly informed can muster, for they need no jargon to cover confusions. Their mastery allows them to present the essentials in simple, unadorned forms and through genuinely illustrative examples. Any manager or director trying to navigate dynamic markets can use this book to learn new ways of thinking, explore new possibilities, and study historical experiences. Robert Artigiani, United States Naval Academy Current thinking about evolutionary dynamics increasingly relies on co-evolution, and co-evolution increasingly implies complex dynamics of one sort or another. This volume brings together a capable and well-balanced group of thinkers on these topics who explore these deeply related concepts with up-to-date and advanced tools and concepts. For anyone wishing to learn about the latest developments in these rapidly developing areas, this book is highly recommended. J. Barkley Rosser Jr., James Madison University, US This book applies ideas and methods from the complexity perspective to key concerns in the social sciences, exploring co-evolutionary processes that have not yet been addressed in the technical or popular literature on complexity. Authorities in a variety of fields including evolutionary economics, innovation and regeneration studies, urban modelling and history re-evaluate their disciplines within this framework. The book explores the complex dynamic processes that give rise to socio-economic change over space and time, with reference to empirical cases including the emergence of knowledge-intensive industries and decline of mature regions, the operation of innovative networks and the evolution of localities and cities. Sustainability is a persistent theme and the practicability of intervention is examined in the light of these perspectives. Specialists in disciplines that include economics, evolutionary theory, innovation, industrial manufacturing, technology change, and archaeology will find much to interest them in this book. In addition, the strong interdisciplinary emphasis of the book will attract a non-specialist audience interested in keeping abreast of current theoretical and methodological approaches through evidence-based and practical examples.
Book Synopsis Complexity and Co-evolution by : Elizabeth Garnsey
Download or read book Complexity and Co-evolution written by Elizabeth Garnsey and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . in my opinion. . . readers. . . should find in this book both several remarkable insights concerning basic statements of evolutionary theorising and concrete results that can be acquired by applying such basic statements in computer simulation models and in various fields of analysis. Mauro Lombardi, The Journal of Artificial Societies and Social Simulation Complexity theory first emerged three decades or so ago, but only recently has its potential relevance for the study of social and economic phenomena really begun to be recognised. This timely collection of essays clearly demonstrates, both conceptually and empirically, how complexity theory ideas can provide considerable insight into how socio-economic systems cities, societies, industries, technologies and economies evolve and adapt over time. It is essential reading for anyone interested in how order and evolution emerge out of the seemingly chaotic socio-economic world around us. Ron Martin, University of Cambridge, UK I read Complexity and Co-Evolution with real pleasure. These authors have done the near impossible they have made the concepts of a new and evolving science accessible to people who can apply it in practical ways. The clarity of writing reflects the sort of confidence only the truly informed can muster, for they need no jargon to cover confusions. Their mastery allows them to present the essentials in simple, unadorned forms and through genuinely illustrative examples. Any manager or director trying to navigate dynamic markets can use this book to learn new ways of thinking, explore new possibilities, and study historical experiences. Robert Artigiani, United States Naval Academy Current thinking about evolutionary dynamics increasingly relies on co-evolution, and co-evolution increasingly implies complex dynamics of one sort or another. This volume brings together a capable and well-balanced group of thinkers on these topics who explore these deeply related concepts with up-to-date and advanced tools and concepts. For anyone wishing to learn about the latest developments in these rapidly developing areas, this book is highly recommended. J. Barkley Rosser Jr., James Madison University, US This book applies ideas and methods from the complexity perspective to key concerns in the social sciences, exploring co-evolutionary processes that have not yet been addressed in the technical or popular literature on complexity. Authorities in a variety of fields including evolutionary economics, innovation and regeneration studies, urban modelling and history re-evaluate their disciplines within this framework. The book explores the complex dynamic processes that give rise to socio-economic change over space and time, with reference to empirical cases including the emergence of knowledge-intensive industries and decline of mature regions, the operation of innovative networks and the evolution of localities and cities. Sustainability is a persistent theme and the practicability of intervention is examined in the light of these perspectives. Specialists in disciplines that include economics, evolutionary theory, innovation, industrial manufacturing, technology change, and archaeology will find much to interest them in this book. In addition, the strong interdisciplinary emphasis of the book will attract a non-specialist audience interested in keeping abreast of current theoretical and methodological approaches through evidence-based and practical examples.
