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Darwinism in Economics and the Evolutionary Theory of Policy-Making

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  • Christian Schubert

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Abstract

According to the advocates of a "Generalized Darwinism" (GD), the three Darwinian principles of variation, selection and retention can and should be used as a meta-theoretical framework for the explanation of evolutionary processes in the socio¬cultural domain. Despite their biological origins, GD aims at redefining them in a way that is supposed to abstract from any domain-specific particulars. We argue that in order to qualify as an adequate meta-theoretical framework for evolutionary economics, GD should be able to support and inspire viable practical policy implications. After examining its potential to do so, however, we conclude that GD risks systematically misguiding evolutionary policy advice.

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Bibliographic Info

Paper provided by Max Planck Institute of Economics, Evolutionary Economics Group in its series Papers on Economics and Evolution with number 2009-10.

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Date of creation: Sep 2009
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Handle: RePEc:esi:evopap:2009-10

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Keywords: Evolution; Selection; Darwinism; Ontology; Continuity Hypothesis; Evolutionary Theory of Policy-Making Length 44 pages;

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References

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  1. Sidney G. Winter, 1964. "Economic "Natural Selection" and the Theory of the Firm," LEM Chapters Series, in: Yale Economic Essays, pages 225-272 Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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  8. Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September.
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  17. Marciano, Alain, 2009. "Why Hayek is a Darwinian (after all)? Hayek and Darwin on social evolution," Journal of Economic Behavior & Organization, Elsevier, vol. 71(1), pages 52-61, July.
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Cited by:
  1. Romar Correa, 2010. "Regime-Changes in a Stock-Flow-Consistent Model," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 8(1), pages 24-33.

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