Schumpeter and Georgescu-Roegen on the foundations of an evolutionary analysis
AbstractQualitative change is widely recognised as a defining feature of evolution. Schumpeter and Georgescu-Roegen put it at the centre of their methodological reasoning. I revisit important contributions of these two authors, paying attention to the immediate relationship of the major traits and treated issues between their works. With reference to qualitative change, their joint approach provides answers as to (i) why an evolutionary analysis has to necessarily apply a varied less formal set of methods as compared with modern static and dynamic analysis, (ii) why an evolutionary analysis is a necessary component of economic analysis and (iii) how it can be seen as complementary to modern statics and dynamics. They argued for methodological pluralism, where the choice of methods shall derive from close observation of the subject matter under scrutiny. Georgescu-Roegen's reasoning shows the necessity of interdisciplinary contributions and the interrelation of economic activity and environmental impact and constraints, putting environmental issues immediately on the evolutionary economics agenda. The paper provides a new ground for evaluating Georgescu-Roegen's own and their joint contribution to modern research. Copyright , Oxford University Press.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal Of Economics.
Volume (Year): 37 (2013)
Issue (Month): 2 ()
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://www.cje.oupjournals.org/
Other versions of this item:
- Christoph Heinzel, 2012. "Schumpeter and Georgescu-Roegen on the Foundations of an Evolutionary Analysis," Working Papers SMART - LERECO 12-08, INRA UMR SMART.
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Agnès Festré & Pierre Garrouste, 2007.
"Rationality, Behavior, Institutional and Economic Change in Schumpeter,"
ICER Working Papers
37-2007, ICER - International Centre for Economic Research.
- Agnes Festre & Pierre Garrouste, 2008. "Rationality, behavior, institutional, and economic change in Schumpeter," Journal of Economic Methodology, Taylor & Francis Journals, vol. 15(4), pages 365-390.
- Ulrich Witt, 2004. "On the proper interpretation of 'evolution' in economics and its implications for production theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 125-146.
- Jason Potts & John Foster & Anna Straton, 2010.
"An entrepreneurial model of economic and environmental co-evolution,"
Discussion Papers Series
409, School of Economics, University of Queensland, Australia.
- Potts, Jason & Foster, John & Straton, Anna, 2010. "An entrepreneurial model of economic and environmental co-evolution," Ecological Economics, Elsevier, vol. 70(2), pages 375-383, December.
- Mayumi, Kozo, 1995. "Nicholas Georgescu-Roegen (1906-1994): An admirable epistemologist," Structural Change and Economic Dynamics, Elsevier, vol. 6(3), pages 261-265, August.
- Thorbj, rn Knudsen, 2002. "Economic selection theory," Journal of Evolutionary Economics, Springer, vol. 12(4), pages 443-470.
- Guido Buenstorf, 2006. "How useful is generalized Darwinism as a framework to study competition and industrial evolution?," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 511-527, December.
- Colin Camerer & Teck-Hua Ho, 1999. "Experience-weighted Attraction Learning in Normal Form Games," Econometrica, Econometric Society, vol. 67(4), pages 827-874, July.
- Horst Hanusch & Andreas Pyka, 2007.
"Principles of Neo-Schumpeterian Economics,"
Cambridge Journal of Economics,
Oxford University Press, vol. 31(2), pages 275-289, March.
- John Gowdy & Susan Mesner, 1998. "The Evolution of Georgescu-Roegen's Bioeconomics," Review of Social Economy, Taylor & Francis Journals, vol. 56(2), pages 136-156.
- Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135.
- Vernon L. Smith, 2003.
"Constructivist and Ecological Rationality in Economics,"
American Economic Review,
American Economic Association, vol. 93(3), pages 465-508, June.
- Smith, Vernon L., 2002. "Constructivist and Ecological Rationality in Economics," Nobel Prize in Economics documents 2002-7, Nobel Prize Committee.
- Roland Bénabou & Jean Tirole, 2011. "Identity, Morals, and Taboos: Beliefs as Assets," The Quarterly Journal of Economics, Oxford University Press, vol. 126(2), pages 805-855.
- Jeroen C.J.M. van den Bergh, 2007. "Evolutionary Thinking in Environmental Economics," Tinbergen Institute Discussion Papers 07-018/3, Tinbergen Institute.
- Roland Benabou & Jean Tirole, 2003.
"Intrinsic and Extrinsic Motivation,"
Review of Economic Studies,
Wiley Blackwell, vol. 70(3), pages 489-520, 07.
- Jean Tirole, 2009.
"Cognition and Incomplete Contracts,"
American Economic Review,
American Economic Association, vol. 99(1), pages 265-94, March.
- Jeroen Bergh, 2007.
"Evolutionary thinking in environmental economics,"
Journal of Evolutionary Economics,
Springer, vol. 17(5), pages 521-549, October.
- Geoffrey Hodgson, 2004. "Darwinism, causality and the social sciences," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 175-194.
- Kallis, Giorgos & Norgaard, Richard B., 2010. "Coevolutionary ecological economics," Ecological Economics, Elsevier, vol. 69(4), pages 690-699, February.
- Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 547-575, October.
- Franco Malerba, 2006.
"Innovation and the evolution of industries,"
Journal of Evolutionary Economics,
Springer, vol. 16(1), pages 3-23, April.
- John Foster, 2000. "Competitive selection, self-organisation and Joseph A. Schumpeter," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 311-328.
- Foster, John, 1997. "The analytical foundations of evolutionary economics: From biological analogy to economic self-organization," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 427-451, October.
- Daly, Herman E., 1995. "On Nicholas Georgescu-Roegen's contributions to economics: an obituary essay," Ecological Economics, Elsevier, vol. 13(3), pages 149-154, June.
- Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
- Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953, December.
- Kurt Dopfer & John Foster & Jason Potts, 2004. "Micro-meso-macro," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 263-279, 07.
- Colin F. Camerer & Teck-Hua Ho & Juin-Kuan Chong, 2004. "A Cognitive Hierarchy Model of Games," The Quarterly Journal of Economics, MIT Press, vol. 119(3), pages 861-898, August.
- Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 23-46, Spring.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.