Evolution as a general theoretical framework for economics and public policy
AbstractEconomic and evolutionary thinking have been entwined throughout their histories, but evolutionary theory does not function as a general theoretical framework for economics and public policy, as it does for the biological sciences. In this lead article for a special issue of the Journal of Economic Behavior and Organization, we first describe how evolution functions as a general theoretical framework in the biological sciences. Then we consider four reasons why evolution might not need to be consulted for human-related subjects such as economics and public policy. We conclude that these reasons can be valid in particular cases, but they fail for any sizeable human-related subject area. Hence evolution can and should become a general theoretical framework for economics and public policy. The other articles in the special issue help to substantiate this claim.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 90 (2013)
Issue (Month): S ()
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Adaptation; Economic history; Evolution; Public policy;
Find related papers by JEL classification:
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
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