This paper discusses the use of Herbert Simon's concept of bounded rationality in the evolutionary firm of Nelson and Winter. The assumption of bounded rationality (an individual behavior) in a collective context of firm could require some justification. We suggest that the adoption of complex...

One of the most influential evolutionary model in Nelson and Winter's book is the one dealing with industrial dynamics (chapter 12). From that model came out meaningful insights about market structure and technological change relationship. Despite the improvements made by evolutionary models...

A new Development Economics is being built, combining the return to the heritage of the “old” Structuralism with contributions brought by the renewal of the Institutionalism. This paper begins with a balance of the first development economists’ contributions and insufficiencies and of the...

What we show is this article is that there is a link between Post- Keynesian theory and Institutional Economy. This link can help us (i) to understand the instability of the monetary economies and (ii) to oberve the relevance of the institutions in the coordenation process of the monetary economies.

O artigo propõe tratar de duas questões. Em primeiro lugar, busca uma aproximação entre Raymundo Faoro e Celso Furtado. Especificamente em relação ao atraso econômico brasileiro, ambos autores atestam que são as “classes dirigentes" que ao elaborarem estratégias de superação do...

Taking as guarantee that no one new world or society can be built upon old concepts and ideas, this paper seeks to attack one of the main pilar of the capitalistic world-economy: the scientific economicism. To do that, and coming along with Polanyi's ideas of fictitious commodity, we shall go...

The adoption of a set of fiscal and budgetary institutions for a better macroeconomic performance has been gathering support in various governments. This article states that Institutions matters and adopts the New Institutional Economics framework in its approach. After a brief review of the...

The issue of fiscal imbalance has become central to the current economic debate. A diagnostic Brazilian fiscal problem emphasizes that the rise in primary expenditure stems from "structural" factors, due to the growth of social security spending and social programs, resulting from the 1988...

This paper aims at contributing to the discussion of the theoretical construction of the neo-Schumpeterian approach to technical and economic change. First, the fundamentals of this approach, based on analogies to evolutionary concepts of the biological sciences, are presented. Second, we show...