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Evolutionary and Institutional Economic Analysis of the Scarcity Concept in Modern Economics

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  • Plamen Tchipev

Abstract

This is an attempt to rationalise a fundamental category of modern neoclassical economics from a critical point of view using the tools of the modern institutional and evolutionary economic analysis. The scarcity concept of economic goods has been critically analysed in an evolutionary and biological context, as well as in general social and specific market context. A possible answer regarding its specific presence in the neoclassical economics has been suggested, as well as with regard to the absence of institutional projection within the analysis of the same theoretical doctrine.

Suggested Citation

  • Plamen Tchipev, 2006. "Evolutionary and Institutional Economic Analysis of the Scarcity Concept in Modern Economics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 44-58.
    • Handle: RePEc:bas:econth:y:2006:i:3:p:44-58
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    References listed on IDEAS

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    1. Geoffrey M. Hodgson, 1999. "Evolution and Institutions," Books, Edward Elgar Publishing, number 1481.
    2. Neumayer, Eric, 2000. "Scarce or Abundant? The Economics of Natural Resource Availability," Journal of Economic Surveys, Wiley Blackwell, vol. 14(3), pages 307-335, July.
    3. Howard, M C & King, J E, 2001. "Where Marx Was Right: Towards a More Secure Foundation for Heterodox Economies," Cambridge Journal of Economics, Oxford University Press, vol. 25(6), pages 785-807, November.
    4. Eric Neumayer, 2000. "Scarce or Abundant? The Economics of Natural Resource Availability," Journal of Economic Surveys, Wiley Blackwell, vol. 14(3), pages 307-335, July.
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    Cited by:

    1. Daoud, Adel, 2018. "Unifying Studies of Scarcity, Abundance, and Sufficiency," Ecological Economics, Elsevier, vol. 147(C), pages 208-217.
    2. Adel Daoud, 2010. "Robbins and Malthus on Scarcity, Abundance, and Sufficiency," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(4), pages 1206-1229, October.

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    More about this item

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact

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