Evolutionary Biology and Evolutionary Economics

The paper identifies two major conceptual challenges facing evolutionary economics and shows how they parallel similar challenges facing evolutionary and developmental biology. One issue is the differentiation between learning-by-doing, on one hand, and habit formation, on the other. Another issue is the distinction between the cause or origin of evolutionary mutation/innovation, on one side, and the relevant unit which is the subject of evolutionary change, on the other. The failure to identify these two sets of distinction may hinder the articulation of an apropos evolutionary economic theory.