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On the proper interpretation of 'evolution' in economics and its implications for production theory

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Author Info
Ulrich Witt

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Abstract

How relevant is the notion of evolution for economics? In view of the paradigmatic influence of Darwinian thought, several recently advocated interpretations are discussed first which rely on Darwinian concepts. As an alternative, a notion of evolution is suggested that is based on a few, abstract, common principles which all domain-specific evolutionary processes share, including those in the economy. A different, ontological question is whether and, if so, how the various domain-specific evolutionary processes are connected. As an answer, an evolutionary continuity hypothesis is postulated and its concrete economic implications are discussed exemplarily for the theory of production.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Journal of Economic Methodology.

Volume (Year): 11 (2004)
Issue (Month): 2 (June)
Pages: 125-146
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Handle: RePEc:taf:jecmet:v:11:y:2004:i:2:p:125-146

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Related research
Keywords: Evolutionary Economics; Novelty; Selection Metaphor; Sociobiology; Universal Darwinism; Production Theory;

Cited by:
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  1. V. J. Vanberg, 2004. "Human Intentionality and Design In Cultural Evolution," Papers on Economics and Evolution 2004-02, Max Planck Institute of Economics, Evolutionary Economics Group.
  2. Nooteboom, Bart, 2006. "Organization, evolution, cognition and dynamic capabilities," Discussion Paper 41, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  3. Jack Vromen, 2008. "Ontological issues in evolutionary economics: The debate between Generalized Darwinism and the Continuity Hypothesis," Papers on Economics and Evolution 2008-05, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
  4. G. Hodgson & T. Knudsen, 2004. "The Nature and Units of Social Selection," Papers on Economics and Evolution 2004-24, Max Planck Institute of Economics, Evolutionary Economics Group.
    Other versions:
  5. Bart Nooteboom, 2008. "In what sense do firms evolve?," Papers on Economics and Evolution 2008-12, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
  6. Christian Cordes, 2008. "A potential limit on competition," Journal of Bioeconomics, Springer, vol. 10(2), pages 127-144, August. [Downloadable!] (restricted)
  7. Thomas Brenner & Christian Cordes, 2004. "The autocatalytic character of the growth of production knowledge: What role does human labor play?," Papers on Economics and Evolution 2004-12, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
  8. Geoffrey Hodgson & Thorbjørn Knudsen, 2008. "In search of general evolutionary principles: Why Darwinism is too important to be left to the biologists," Journal of Bioeconomics, Springer, vol. 10(1), pages 51-69, April. [Downloadable!] (restricted)
  9. Kevin Marechal & Hélène Aubaret-Joachain & Jean-Paul Ledant, 2008. "The influence of Economics on agricultural systems: an evolutionary and ecological perspective," Working Papers CEB 08-028.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
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This page was last updated on 2009-11-14.


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