IDEAS home Printed from https://ideas.repec.org/a/spr/joevec/v29y2019i3d10.1007_s00191-018-0588-y.html
   My bibliography  Save this article

Toward an evolutionary theory of human capital

Author

Listed:
  • Carolina Cañibano

    (Universitat Politècnica de València)

  • Jason Potts

    (RMIT University)

Abstract

The structure and dynamics of knowledge are central to modern evolutionary economics. In the canonical evolutionary model, knowledge exists in the routines and competencies of firms, an approach optimized to study industrial dynamics. In mainstream economics however, knowledge is represented as human capital, an investment by workers in education and skills, an approach suited to the study of labor markets, education, jobs and careers. Evolutionary economics has little to say about this. We propose a new research program for evolutionary economics that develops an evolutionary theory of human capital by developing a meso perspective that represents human capital as a position on a network of knowledge, and economic evolution as a change in that network. Our new approach proposes an evolutionary model of the evolution of jobs and occupations as the evolving structure of that network and of a career as a path through that network.

Suggested Citation

  • Carolina Cañibano & Jason Potts, 2019. "Toward an evolutionary theory of human capital," Journal of Evolutionary Economics, Springer, vol. 29(3), pages 1017-1035, July.
    • Handle: RePEc:spr:joevec:v:29:y:2019:i:3:d:10.1007_s00191-018-0588-y
    DOI: 10.1007/s00191-018-0588-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s00191-018-0588-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s00191-018-0588-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Francesco Vona & Davide Consoli, 2015. "Innovation and skill dynamics: a life-cycle approach," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 24(6), pages 1393-1415.
    2. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(6), pages 873-892, November.
    3. Kenneth E. Boulding, 1956. "General Systems Theory--The Skeleton of Science," Management Science, INFORMS, vol. 2(3), pages 197-208, April.
    4. James G. March, 1991. "Exploration and Exploitation in Organizational Learning," Organization Science, INFORMS, vol. 2(1), pages 71-87, February.
    5. Tony Lawson, 2013. "What is this 'school' called neoclassical economics?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(5), pages 947-983.
    6. Woolley, Richard & Cañibano, Carolina, 2010. "Scientific mobility and development: toward a socioeconomic conceptual framework," INGENIO (CSIC-UPV) Working Paper Series 201007, INGENIO (CSIC-UPV).
    7. Hodgson, Geoffrey M, 1993. "Theories of Economic Evolution: A Preliminary Taxonomy," The Manchester School of Economic & Social Studies, University of Manchester, vol. 61(2), pages 125-143, June.
    8. Brian J. Loasby, 2001. "Time, knowledge and evolutionary dynamics: why connections matter," Journal of Evolutionary Economics, Springer, vol. 11(4), pages 393-412.
    9. Jason Potts, 2000. "The New Evolutionary Microeconomics," Books, Edward Elgar Publishing, number 2258, December.
    10. David H. Autor & Frank Levy & Richard J. Murnane, 2003. "The skill content of recent technological change: an empirical exploration," Proceedings, Federal Reserve Bank of San Francisco, issue Nov.
    11. Mincer, Jacob, 1984. "Human capital and economic growth," Economics of Education Review, Elsevier, vol. 3(3), pages 195-205, June.
    12. Boulding, K E, 1991. "What Is Evolutionary Economics?," Journal of Evolutionary Economics, Springer, vol. 1(1), pages 9-17, January.
    13. Muñoz, Félix-Fernando & Encinar, María-Isabel & Cañibano, Carolina, 2011. "On the role of intentionality in evolutionary economic change," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 193-203, September.
    14. Philippe Aghion & Peter Howitt, 1994. "Growth and Unemployment," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(3), pages 477-494.
    15. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66(4), pages 281-281.
    16. Burton-Jones, Alan & Spender, J.-C. (ed.), 2012. "The Oxford Handbook of Human Capital," OUP Catalogue, Oxford University Press, number 9780199655892, Decembrie.
    17. Elsner, Wolfram & Heinrich, Torsten & Schwardt, Henning, 2014. "The Microeconomics of Complex Economies," Elsevier Monographs, Elsevier, edition 1, number 9780124115859.
    18. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09iak49cp9p is not listed on IDEAS
    19. Shackle,G. L. S., 2010. "The Nature of Economic Thought," Cambridge Books, Cambridge University Press, number 9780521147590, November.
    20. John Foster, 2006. "Why Is Economics Not a Complex Systems Science?," Journal of Economic Issues, Taylor & Francis Journals, vol. 40(4), pages 1069-1091, December.
    21. Kurt Dopfer & Jason Potts, 2004. "Evolutionary realism: a new ontology for economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 195-212.
    22. Geoffrey M. Hodgson, 2014. "What is capital? Economists and sociologists have changed its meaning: should it be changed back?," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(5), pages 1063-1086.
    23. Kincaid, Harold & Ross, Don (ed.), 2009. "The Oxford Handbook of Philosophy of Economics," OUP Catalogue, Oxford University Press, number 9780195189254, Decembrie.
    24. Mirowski, Philip & Sent, Esther-Mirjam (ed.), 2002. "Science Bought and Sold," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226538563, January.
    25. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muñoz, Félix-Fernando & Encinar, María-Isabel & Cañibano, Carolina, 2011. "On the role of intentionality in evolutionary economic change," Structural Change and Economic Dynamics, Elsevier, vol. 22(3), pages 193-203, September.
    2. Félix-Fernando Muñoz & María-Isabel Encinar, 2019. "Some elements for a definition of an evolutionary efficiency criterion," Journal of Evolutionary Economics, Springer, vol. 29(3), pages 919-937, July.
    3. Muñoz, Félix & Encinar, María Isabel & Fernández-de-Pinedo, Nadia, 2014. "Intentionality and technological and institutional change: Implications for economic development," Working Papers in Economic Theory 2014/04, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    4. Burmaoglu, Serhat & Sartenaer, Olivier & Porter, Alan, 2019. "Conceptual definition of technology emergence: A long journey from philosophy of science to science policy," Technology in Society, Elsevier, vol. 59(C).
    5. Stan Metcalfe, "undated". "Capitalism and evolution," Openloc Working Papers 1201, Public policies and local development.
    6. Mariana Pereira-López & Isidro Soloaga, 2015. "External returns to higher education in Mexico 2000-2010," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(1), pages 1-34, May.
    7. Brendan Markey-Towler, 2018. "A formal psychological theory for evolutionary economics," Journal of Evolutionary Economics, Springer, vol. 28(4), pages 691-725, September.
    8. Ron Martin & Peter Sunley, 2010. "Complexity Thinking and Evolutionary Economic Geography," Chapters, in: Ron Boschma & Ron Martin (ed.), The Handbook of Evolutionary Economic Geography, chapter 4, Edward Elgar Publishing.
    9. Harper, David A. & Endres, Anthony M., 2010. "Capital as a layer cake: A systems approach to capital and its multi-level structure," Journal of Economic Behavior & Organization, Elsevier, vol. 74(1-2), pages 30-41, May.
    10. Félix-Fernando Muñoz & María-Isabel Encinar, 2015. "Intentionality and the Emergence of Complexity: An Analytical Approach," Economic Complexity and Evolution, in: Andreas Pyka & John Foster (ed.), The Evolution of Economic and Innovation Systems, edition 127, pages 171-190, Springer.
    11. Satinder Singh & Jajati K. Parida, 2022. "Employment and Earning Differentials Among Vocationally Trained Youth: Evidence from field studies in Punjab and Haryana in India," Millennial Asia, , vol. 13(1), pages 142-172, April.
    12. Hiroaki Hayakawa & Yannis P. Venieris, 2019. "Duality in human capital accumulation and inequality in income distribution," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 9(3), pages 285-310, September.
    13. Múñoz, Féliz-Fernando & Encinar, María-Isabel & Cañibano, Carolina, 2016. "Agents, interaction, and economic laws: An analytical framework for understanding different economic theories," Working Papers in Economic Theory 2016/05, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    14. Amavilah, Voxi Heinrich, 2014. "Human Knowledge and a Commonsensical Measure of Human Capital: A Proposal," MPRA Paper 57670, University Library of Munich, Germany.
    15. Ahmed S. Rahman, 2017. "Rise of the Machines Redux – Education, Technological Transition and Long-run Growth," Departmental Working Papers 61, United States Naval Academy Department of Economics.
    16. María-Isabel Encinar & Félix-Fernando Muñoz, 2006. "On novelty and economics: Schumpeter’s paradox," Journal of Evolutionary Economics, Springer, vol. 16(3), pages 255-277, August.
    17. Stan Metcalfe, 2014. "Capitalism and evolution," Journal of Evolutionary Economics, Springer, vol. 24(1), pages 11-34, January.
    18. Amavilah, Voxi Heinrich, 2014. "Knowledge = Technology + Human Capital and the Lucas and Romer Production Functions," MPRA Paper 58847, University Library of Munich, Germany.
    19. Tommaso AGASISTI & Geraint JOHNES & Marco PACCAGNELLA, 2021. "Tasks, occupations and wages in OECD countries," International Labour Review, International Labour Organization, vol. 160(1), pages 85-112, March.
    20. Rabensteiner, Thomas & Guschanski, Alexander, 2022. "Autonomy and wage divergence: evidence from European survey data," Greenwich Papers in Political Economy 37925, University of Greenwich, Greenwich Political Economy Research Centre.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joevec:v:29:y:2019:i:3:d:10.1007_s00191-018-0588-y. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.