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In this article, the goal is to offer a new research agenda for evolutionary macroeconomics. The article commences with a broad review of the main ideas in the history of thought concerning the determinants of economic growth and an introduction to the evolutionary perspective. This is followed...
Persistent link: https://www.econbiz.de/10009448330
The applicability of complex systems theory in economics is evaluated and compared with standard approaches to economic theorising based upon constrained optimisation. A complex system is defined in the economic context and differentiated from complex systems in physio-chemical and biological...
Persistent link: https://www.econbiz.de/10009479538
Persistent link: https://www.econbiz.de/10009658690
The standard neoclassical approach to economic theorising excludes, by definition, economic emergence and the related phenomenon of entrepreneurship. We explore how the most economic of human behaviours, entrepreneurship, came to be largely excluded from mainstream economic theory. In contrast,...
Persistent link: https://www.econbiz.de/10010576973
Persistent link: https://www.econbiz.de/10008925598
It is argued that the fact that economic systems are dissipative structures must be taken fully into account in economics if we are to understand the nature of the economic–ecological interface and how to deal with emergent environmental problems, such as global warming. Such problems are a...
Persistent link: https://www.econbiz.de/10011048170