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Competitive selection, self-organisation and Joseph A. Schumpeter

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  • John Foster

    ()
    (Department of Economics, University of Queensland, Brisbane, QLD 4072, Australia)

Abstract

Post-Schumpeterians have tended to use biological analogies to understand economic evolution, in contrast to Schumpeter himself. In this paper it is argued that the biological analogies used tend to be outdated and that Schumpeter espoused an intuitive understanding of the evolutionary economic process that is closely related to modern conceptions of self-organisation, suitably adapted for application in socioeconomic systems. Using a self-organisation approach, competition can be understood without recourse to biological analogy, in terms of general systemic principles that operate in the presence of variety. Viewing economic evolution in terms of complex adaptation in self-organising systems yields nonequilibrium and nonlinear perspectives that parallel Schumpeter's own intuitions, reinvigorating them as the basis of evolutionary economic thinking in the new Millennium.

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Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 10 (2000)
Issue (Month): 3 ()
Pages: 311-328

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Handle: RePEc:spr:joevec:v:10:y:2000:i:3:p:311-328

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Related research

Keywords: Joseph A. Schumpeter - Self-organisation - Competition - Selection - Evolutionary economics - Biological analogy - Nonequilibrium process - Nonlinear discontinuity;

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Citations

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Cited by:
  1. Christoph Heinzel, 2012. "Schumpeter and Georgescu-Roegen on the Foundations of an Evolutionary Analysis," Working Papers SMART - LERECO 12-08, INRA UMR SMART.
  2. María-Isabel Encinar & Félix-Fernando Muñoz, 2006. "On novelty and economics: Schumpeter’s paradox," Journal of Evolutionary Economics, Springer, vol. 16(3), pages 255-277, August.
  3. John Foster & J. Stan Metcalfe, 2011. "Economic Emergence: an Evolutionary Economic Perspective," Papers on Economics and Evolution 2011-12, Max Planck Institute of Economics, Evolutionary Economics Group.
  4. Prof John Foster, 2007. "A micro-meso-macro perspective on the methodology of evolutionary economics: integrating history, simulation and econometrics," Discussion Papers Series 343, School of Economics, University of Queensland, Australia.
  5. Fry, J. M. & Masood, Omar, 2011. "Testable implications of economic revolutions: An application to historic data on European wages," MPRA Paper 32812, University Library of Munich, Germany.
  6. Ron Martin & Peter Sunley, 2007. "Complexity thinking and evolutionary economic geography," Journal of Economic Geography, Oxford University Press, vol. 7(5), pages 573-601, September.
  7. Bleda, Mercedes & del Río, Pablo, 2013. "The market failure and the systemic failure rationales in technological innovation systems," Research Policy, Elsevier, vol. 42(5), pages 1039-1052.
  8. Sylvie Geisendorf, 2011. "Internal selection and market selection in economic Genetic Algorithms," Journal of Evolutionary Economics, Springer, vol. 21(5), pages 817-841, December.
  9. Magda Fontana, 2014. "Pluralism(s) in economics: lessons from complexity and innovation. A review paper," Journal of Evolutionary Economics, Springer, vol. 24(1), pages 189-204, January.
  10. J. Stan Metcalfe & John Foster, 2009. "Evolutionary Growth Theory," Discussion Papers Series 388, School of Economics, University of Queensland, Australia.
  11. Timur Han Gür & Naci Canpolat & Hüseyin Özel, 2011. "The Crisis and After: There Is No Alternative?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 113-133, March.
  12. Nooteboom, B., 2005. "Entrepreneurial Roles Along a Cycle of Discovery," Discussion Paper 2005-43, Tilburg University, Center for Economic Research.
  13. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
  14. Anthony Endres & Christine Woods, 2010. "Schumpeter’s ‘conduct model of the dynamic entrepreneur’: scope and distinctiveness," Journal of Evolutionary Economics, Springer, vol. 20(4), pages 583-607, August.
  15. He, Zheng & Rayman-Bacchus, Lez & Wu, Yiming, 2011. "Self-organization of industrial clustering in a transition economy: A proposed framework and case study evidence from China," Research Policy, Elsevier, vol. 40(9), pages 1280-1294.
  16. Kurt Dopfer, 2012. "The origins of meso economics," Journal of Evolutionary Economics, Springer, vol. 22(1), pages 133-160, January.
  17. Sylvie Geisendorf, 2009. "The economic concept of evolution: self-organization or Universal Darwinism?," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(4), pages 377-391.
  18. Mark Bowden & Stuart McDonald, 2008. "The Impact of Interaction and Social Learning on Aggregate Expectations," Computational Economics, Society for Computational Economics, vol. 31(3), pages 289-306, April.
  19. John Foster, 2011. "Evolutionary macroeconomics: a research agenda," Journal of Evolutionary Economics, Springer, vol. 21(1), pages 5-28, February.

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