Routledge Handbook of Evolutionary Economics | Economics

Product Description

While dating from post-Classical economists such as Thorstein Veblen and Joseph Schumpeter the inception of the modern field of evolutionary economics is usually dated to the early 1980s. Broadly speaking evolutionary economics sees the economy as undergoing continual evolutionary change. Evolutionary change indicates that these changes were not planned but rather were the result of innovations and selection processes. These often involved winners and losers but most importantly they resulted in actors learning what was and was not working. Evolutionary economics in contrast to mainstream economics emphasises the relevance of variables such as technology institutions decision rules routines…