This paper proposes the application of the between-group component of the Theil index to data on wages, earnings, and employment by industrial classification, in order to measure the evolution of wage or earnings inequality through time. We provide formal criteria under which such a...

We present a common analytical framework for evolutionary and institutional economics, conceived as the study of systems that do not tend toward, nor necessarily fluctuate around, a steady state. Using an evolutionary equation, we derive an analytical theory of the relation between resource...

This presidential address to the Association for Evolutionary Economics was delivered at the annual meeting in San Diego, California, on January 5, 2013.

In this paper, we provide a model that permits systematic and even quantitative assessment of the policy implications of increasingly scarce and expensive resources. Specifically, we model the return to investment as a function of fixed cost, discount rate, uncertainty, project duration and the...

This paper deepens and extends the conclusion by Conceição and Galbraith [2000] that, under some very general conditions, the dynamics of overall inequality can be captured using only the between sector component of the Theil index. This paper explores the fractal properties of the Theil...