Recent advances in evolutionary theory have important implications for environmental economics. A short overview is offered of evolutionarythinking in economics. Subsequently, major concepts and approaches inevolutionary biology and evolutionary economics are presented andcompared. Attention is...

In this paper, we examine the policies of the World Trade Organisation (WTO) as an example of the conflict in neoclassical theory between consumer sovereignty and efficiency in production. We begin by going to the roots of neoclassical theory, namely the axioms of consumer choice and the notion...

Purpose – This paper draws upon the work of Georgescu-Roegen to outline some theoretical alternatives to standard welfare theory, and to examine the policy implications of discarding the Walrasian core of neoclassical economics. Design/methodology/approach – Current work in behavioral...