Evolutionary Theory of Economic Change

Name: Evolutionary Theory of Economic Change
Price: 10.93 USD
Availability: InStock
ISBN: 9780674272286

ISBN-10: 0674272285

ISBN-13: 9780674272286

Edition: 1982

Authors: Richard R. Nelson, Sidney G. Winter

List price: $49.00

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Description:

This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in…

Book details

List price: $49.00
Copyright year: 1982
Publisher: Harvard University Press
Publication date: 10/15/1985
Binding: Paperback
Pages: 454
Size: 6.00" wide x 9.00" long x 1.15" tall
Weight: 1.298
Language: English

Richard R. Nelson is George Blumenthal Professor of International and Public Affairs, Business, and Law, Emeritus, at Columbia University.




Overview and Motivation



Introduction



The Need for an Evolutionary Theory



Organization-Theoretic Foundations of Economic Evolutionary Theory



The Foundations of Contemporary Orthodoxy



Skills



Organizational Capabilities and Behavior



Textbook Economics Revisited



Static Selection Equilibrium



Firm and Industry Response to Changed Market Conditions



Growth Theory



Neoclassical Growth Theory: A Critique



An Evolutionary Model of Economic Growth



Economic Growth as a Pure Selection Process



Further Analysis of Search and Selection



Schumpeterian Competition



Dynamic Competition and Technical Progress



Forces Generating and Limiting Concentration under Schumpeterian Competition



The Schumpeterian Tradeoff Revisited



Economic Welfare and Policy



Normative Economics from an Evolutionary Perspective



The Evolution of Public Policies and the Role of Analysis



Conclusion



Retrospect and Prospect


References


Index