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Asymmetric Markets and the Evolution of the Division of Labor

In: The Two Sides of Innovation

Author

Listed:
  • Carl Christian Weizsäcker

    (Max Planck Institute for Research on Collective Goods)

Abstract

In a framework of generalized Darwinism (selection, variation, replication), freedom of choice by the individual is an important ingredient with respect to all three criteria. Such an evolutionary economic system rests on market asymmetry, where the supply side consists of firms that compete and the demand side consists of individuals or firms that choose without being under competitive pressure.

Suggested Citation

  • Carl Christian Weizsäcker, 2013. "Asymmetric Markets and the Evolution of the Division of Labor," Economic Complexity and Evolution, in: Guido Buenstorf & Uwe Cantner & Horst Hanusch & Michael Hutter & Hans-Walter Lorenz & Fritz Rahmeyer (ed.), The Two Sides of Innovation, edition 127, pages 283-290, Springer.
    • Handle: RePEc:spr:eccchp:978-3-319-01496-8_14
    DOI: 10.1007/978-3-319-01496-8_14
    as

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