Heuristic Twists and Ontological Creeds - Road Map for Evolutionary Economics
AbstractWhat is special about the evolutionary approach? This question is given quite different, and partly incommensurable, answers in evolutionary economics. The present paper shows how the different answers correspond with, on the one hand, the particular heuristic twists by which the corresponding authors arrive at their hypotheses (e.g. by borrowing analogies from evolutionary biology). On the other hand, the answers hinge on different ontological assumption (i.e. on whether or not evolution in nature and in the economy are viewed as belonging to the same sphere of reality and, hence, as mutually dependent processes). By distinguishing these two dimensions a road map for evolutionary economics is drawn up that helps to better understand where, and why, the competing interpretations differ. In order to assess their achievements and their potential for future research, some results of an opinion poll among evolutionary economists are presented and discussed.
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Bibliographic InfoPaper provided by Max Planck Institute of Economics, Evolutionary Economics Group in its series Papers on Economics and Evolution with number 2007-01.
Date of creation: Mar 2007
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-03-17 (All new papers)
- NEP-CBE-2007-03-17 (Cognitive & Behavioural Economics)
- NEP-EVO-2007-03-17 (Evolutionary Economics)
- NEP-HIS-2007-03-17 (Business, Economic & Financial History)
- NEP-HPE-2007-03-17 (History & Philosophy of Economics)
- NEP-PKE-2007-03-17 (Post Keynesian Economics)
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- 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.
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