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Economic policy making in evolutionary perspective


  • Ulrich Witt


Economic policy making is discussed from three different angles: the political economy of actual policy making (“what policy does do”), the analysis of policy instruments for given ends (“what policy could do”), and the debate on policy goals and their legitimization (“what policy ought to do”). Center stage in the evolutionary perspective is new, positive and normative knowledge which is unfolding during the policy making process and in its aftermath. It is argued that this implies regularities and constraints which extend and modify the comparative-static interpretations of public choice theory, economic policy making theory, and social philosophy. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • Ulrich Witt, 2003. "Economic policy making in evolutionary perspective," Journal of Evolutionary Economics, Springer, vol. 13(2), pages 77-94, April.
  • Handle: RePEc:spr:joevec:v:13:y:2003:i:2:p:77-94 DOI: 10.1007/s00191-003-0148-x

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    References listed on IDEAS

    1. Peter Maskell & Mark Lorenzen, 2003. "The Cluster as Market Organization," DRUID Working Papers 03-14, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    2. De Fraja, Giovanni, 1993. "Strategic spillovers in patent races," International Journal of Industrial Organization, Elsevier, vol. 11(1), pages 139-146, March.
    3. Harhoff, Dietmar & Henkel, Joachim & von Hippel, Eric, 2003. "Profiting from voluntary information spillovers: how users benefit by freely revealing their innovations," Research Policy, Elsevier, vol. 32(10), pages 1753-1769, December.
    4. Koenig, Michael E. D., 1983. "A bibliometric analysis of pharmaceutical research," Research Policy, Elsevier, vol. 12(1), pages 15-36, February.
    5. Hicks, Diana M. & Isard, Phoebe A. & Martin, Ben R., 1996. "A morphology of Japanese and European corporate research networks," Research Policy, Elsevier, vol. 25(3), pages 359-378, May.
    6. Henderson, Rebecca. & Cockburn, Iain., 1994. "Measuring competence? : exploring firm effects in pharmaceutical research," Working papers 3712-94., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    7. Allen, Robert C., 1983. "Collective invention," Journal of Economic Behavior & Organization, Elsevier, vol. 4(1), pages 1-24, March.
    8. B. Curtis Eaton & Mukesh Eswaran, 2001. "Know-how sharing with stochastic innovations," Canadian Journal of Economics, Canadian Economics Association, vol. 34(2), pages 525-548, May.
    9. Cockburn, Iain M & Henderson, Rebecca M, 1998. "Absorptive Capacity, Coauthoring Behavior, and the Organization of Research in Drug Discovery," Journal of Industrial Economics, Wiley Blackwell, vol. 46(2), pages 157-182, June.
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    More about this item


    Key words: Evolutionary economics – Economic policy making – Policy advice – Policy goals – Public choice theory – Regulation; JEL Classification: A11; B41; D72; D78; E61; L50;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General


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