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Evolution as a general theoretical framework for economics and public policy

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  • Wilson, David Sloan
  • Gowdy, John M.

Abstract

Economic and evolutionary thinking have been entwined throughout their histories, but evolutionary theory does not function as a general theoretical framework for economics and public policy, as it does for the biological sciences. In this lead article for a special issue of the Journal of Economic Behavior and Organization, we first describe how evolution functions as a general theoretical framework in the biological sciences. Then we consider four reasons why evolution might not need to be consulted for human-related subjects such as economics and public policy. We conclude that these reasons can be valid in particular cases, but they fail for any sizeable human-related subject area. Hence evolution can and should become a general theoretical framework for economics and public policy. The other articles in the special issue help to substantiate this claim.

Suggested Citation

  • Wilson, David Sloan & Gowdy, John M., 2013. "Evolution as a general theoretical framework for economics and public policy," Journal of Economic Behavior & Organization, Elsevier, vol. 90(S), pages 3-10.
    • Handle: RePEc:eee:jeborg:v:90:y:2013:i:s:p:s3-s10
    DOI: 10.1016/j.jebo.2012.12.008
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    References listed on IDEAS

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    1. Ulrich Witt, 2003. "The Evolving Economy," Books, Edward Elgar Publishing, number 2477, December.
    2. Ulrich Witt (ed.), 2008. "Recent Developments in Evolutionary Economics," Books, Edward Elgar Publishing, number 2750, December.
    3. Geoffrey Hodgson, 2007. "Taxonomizing the Relationship Between Biology and Economics: A Very Long Engagement," Journal of Bioeconomics, Springer, vol. 9(2), pages 169-185, August.
    4. Jeroen C. J. M. van den Bergh & John M. Gowdy, 2003. "The microfoundations of macroeconomics: an evolutionary perspective," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(1), pages 65-84, January.
    5. Gowdy, John & Seidl, Irmi, 2004. "Economic man and selfish genes: the implications of group selection for economic valuation and policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 33(3), pages 343-358, July.
    6. Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 547-575, October.
    7. Leonard, Thomas C., 2009. "Origins of the myth of social Darwinism: The ambiguous legacy of Richard Hofstadter's Social Darwinism in American Thought," Journal of Economic Behavior & Organization, Elsevier, vol. 71(1), pages 37-51, July.
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    More about this item

    Keywords

    Adaptation; Economic history; Evolution; Public policy;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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