Mainstream Efforts to Tell a Better Story - Natural Selection as a Misplaced Metaphor: The Problem of Corporate Power
Darwin uses natural selection in two different senses. Struggle for existence refers to rivalry; survival of the fittest refers to surviving environmental changes. The mainstream vision of economic harmony requires casting natural selection as survival of the fittest. There is no struggle, no conflict. Mainstream economics depicts the selector in the evolutionary game as the firm itself. The mainstream vision requires banishing corporate power and the technological basis of power. For Veblen, corporate power is central. The existence of power implies that among firms, selection assumes the form of struggle. Evolutionary game theory breaks with the mainstream vision; firms are rivals. Evolutionary game theory, however, lacks the "stories" that provide a mapping between theory and reality, something institutionalists are well-positioned to provide. Stories are necessary for understanding corporate power, its origins, its use, and its limitations.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
When requesting a correction, please mention this item's handle: RePEc:mes:jeciss:v:44:y:2010:i:4:p:991-1008. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ian Winship)or (Chris Nguyen)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.