This judicious selection of recent essays demonstrates the applicability of the fundamental principles of neo-Schumpeterian economics, namely, innovation and uncertainty. The authors demonstrate how neo-Schumpeterian economics is developing into a comprehensive economic theory encompassing...

The book discusses competition from different theoretical perspectives and examines the implications these viewpoints have for policy. The contributors assess competitiveness in domestic markets and the impact of foreign competition. They also review the experiences of a range of countries in...

Recent advances in the measurement of productivity change have exposed a much clearer picture of the turbulent dynamics of restless capitalism. This essay has two objectives. First, to show that the population method drawn from evolutionary theory provides a coherent frame in which the various...

In the 1930s the idea of industrial growth was explored extensively by many economists in particular by Simon Kuznets and Arthur Burns. In their detailed empirical studies they identified diversity of industry growth rates and retardation of industry growth rates as a central feature of...

The focus in this paper is to identify characteristics which distinguish enterprises of operators who sold wool privately from those who sold at auction. The "t" tests on differences in means revealed that private sales tend to be associated with small woolproducing enterprises. In Western...

The concepts of competition and its derivatives, competitiveness and competitive advantage feature as highly on the current development agendas and policy debates of developing countries as they do in the developed world, yet they are sufficiently opaque to make any discussion of the...

This paper outlines an evolutionary theory of adaptive growth based on the twin principles of enterprise and the co-ordinating role of markets. The central organising idea is that economies never grow without simultaneous development. Growth as conventionally understood is a product of...

Dedicated to the goal of furthering evolutionary economic analysis, this book provides a coherent scientific approach to deal with the real world of continual change in the economic system. Expansive in its scope, this book ranges from abstract discussions of ontology, analysis and theory to...

The purpose or this essay is to make the connection between the idea of complexity and the work of four major economists, Smith, Marshall, Schumpeter and Hayek. The bridge is provided by innovation, in the form of emergent novelties, and the division of labour in the form of a system of parts...

In this essay I shall try to assess anew Alfred Marshall’s writing on economic change and the theory of value from the perspective of evolutionary economics. My competing claim is that Marshall’s two great works, Principles of Economics and Industry and Trade, locate him as a major figure in...