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Theorie und Empirie aus evolutionsökonomischer Sicht / Theory and Empirical Facts in the Perspective of Evolutionary

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  • Fehl Ulrich

    () (Philipps-Universität Marburg, Fachbereich Wirtschaftswissenschaften, Abt. Wirtschaftstheorie I, Universitätsstraße 24, D-35032 Marburg, Germany)

Abstract

According to Colander, modern economics is economics of the model. Models have to be testable, in order to get a “theory with measurement”. This procedure was recently criticized vehemently by Blaug maintaining that there is only little empirical progress in the economics of today. He makes the case for evolutionary economics because the latter is considering especially entrepreneurship and innovations, topics which are neglected by economists constructing and testing models. The reason for this is, as G.M. Hodgson tells us: “By its nature, novelty defies the boundary of formalism.” Evolutionary economics stressing competition and market processes focuses on innovations and institutions, but its method – because of the involved complex relations – is not confined to simple testable models. This raises the question how theory is confronted with empirical facts in evolutionary economics. Taking into consideration that evolutionary economics has a preference for “pattern predictions” in the sense of von Hayek the author pleads for a plurality of empirical methods. The important role of the search for “invariant factors” in this context is analyzed, too.

Suggested Citation

  • Fehl Ulrich, 2004. "Theorie und Empirie aus evolutionsökonomischer Sicht / Theory and Empirical Facts in the Perspective of Evolutionary," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 224(1-2), pages 1-16, February.
    • Handle: RePEc:jns:jbstat:v:224:y:2004:i:1-2:p:1-16
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    References listed on IDEAS

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    1. Koch, Lambert, 1996. "Evolutorische Wirtschaftspolitik," Untersuchungen zur Ordnungstheorie und Ordnungspolitik, Mohr Siebeck, Tübingen;Walter Eucken Institut, Freiburg, Germany, edition 1, volume 33, number urn:isbn:9783161465550.
    2. Gerhard Wegner, 1997. "Economic Policy From an Evolutionary Perspective: A New Approach," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(3), pages 485-485, September.
    3. Colander, David, 2000. "The Death of Neoclassical Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(02), pages 127-143, June.
    4. Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, vol. 92(367), pages 630-653, September.
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