AbstractMeta-rules, or rules for making rules, determine the costs of innovation and thus the pace of economic growth. Adapting rules to a changing economic environment through explicit, well-designed meta- rules makes economic growth quicker, less painful, and more certain than adapting rules through chance-based evolution.
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Bibliographic InfoPaper provided by Ohio State University, Department of Agricultural, Environmental and Development Economics in its series Economics and Sociology Occasional Papers with number 28331.
Date of creation: 1995
Date of revision:
Research and Development/Tech Change/Emerging Technologies;
Other versions of this item:
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
- E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary
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- North, Douglass C, 1994.
"Economic Performance through Time,"
American Economic Review,
American Economic Association, vol. 84(3), pages 359-68, June.
- Arthur J. Robson, 2001. "The Biological Basis of Economic Behavior," Journal of Economic Literature, American Economic Association, vol. 39(1), pages 11-33, March.
- Douglass C. North & Robert Paul Thomas, 1970. "An Economic Theory of the Growth of the Western World," Economic History Review, Economic History Society, vol. 23(1), pages 1-17, 04.
- Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
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