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The standard economic treatment of knowledge mixes a mentalist approach in game theory and an externalist approach in growth theory and related fields. This confusing state requires a philosophical clarification. I propose to start out from F.A von Hayek’s approach developed in his book on The...
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framework of analyzing the evolution of (biological, technological etc.) functions under natural selection, if functions are … corresponds to the Maximum Entropy Production Principle, in the sense that functional evolution approximates gradients of maximum … aspects under which evolution in general and economic evolution in particular can be analyzed. -- Georgescu-Roegen ; maximum …
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transitions in evolution, the human economy leverages the mechanisms by which Gaia moves further away from equilibrium. This …
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Recently, the maximum entropy principle has been applied to explain the evolution of complex non-equilibrium systems … evolution can be conceived as a process that manifests the physical tendency to maximize information generation and information …
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