Evolutionary Macroeconomics

Author : Giorgos Argitis
Publisher : Routledge
Page : 136 pages
File Size : 45,5 Mb
Release : 2019-09-09
Category : Business & Economics
ISBN : 9781351670685

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Evolutionary Financial Macroeconomics by Giorgos Argitis Pdf

Thorstein Veblen and Hyman Minsky are seminal thinkers who place great importance on the interaction between processes that link finance and financial markets with economic and social evolution. This book makes a contribution to the recontextualisation of the habitual, non-evolutionary and laissez-faire macroeconomic theory and policy, thus exposing the relevant contribution of the macro-theories of Veblen and Minsky. The book starts with an elucidation of Veblen’s cultural theory of insufficient private demand, waste and financial fragility and instability. It shows how speculative and parasitic leverage engenders solvency illusions and risk, pecuniary efficiency, low quality liability structures and socially destructive boom-bust cycles. Minsky’s creative destruction liquidity processes and coordination failures of cash flow escalate the aforementioned path-dependent developments and explosive dynamics of capitalist economies. The main themes of the book are the cultural, evolutionary and holistic vision of macroeconomics, the evolving habits of mind, routines and financial institutions, the speculative, manipulated and unstable financial markets, as well as the financial macroeconomic destabilizing effects of pecuniary and parasitic consumption and investment. This book will be of great interest to researchers, intellectuals and students pursuing economics and finance.

Author : Richard R. Nelson,Giovanni Dosi,Constance E. Helfat,Andreas Pyka,Sidney G. Winter
Publisher : Cambridge University Press
Page : 285 pages
File Size : 49,6 Mb
Release : 2018-05-03
Category : Business & Economics
ISBN : 9781108427432

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Modern Evolutionary Economics by Richard R. Nelson,Giovanni Dosi,Constance E. Helfat,Andreas Pyka,Sidney G. Winter Pdf

Presents the evolutionary perspective of the economy as perpetually moving, driven by innovation, and the empirical research this has guided.

Author : John Foster
Publisher : Allen & Unwin Australia
Page : 332 pages
File Size : 48,7 Mb
Release : 1987
Category : Business & Economics
ISBN : UCAL:B4149121

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Evolutionary Macroeconomics by John Foster Pdf

Author : John Foster
Publisher : Routledge
Page : 326 pages
File Size : 53,7 Mb
Release : 2013-02-01
Category : Business & Economics
ISBN : 9781136646232

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Evolutionary Macroeconomics (Routledge Revivals) by John Foster Pdf

First published in 1987, Evolutionary Macroeconomics offers an evolutionary approach to macroeconomics as an alternative to contemporary new classical and Keynesian macroeconomics. In order to develop such an approach, an alternative view of the micro-foundations of macroeconomics is presented. The book begins with a commentary on the state of macroeconomics and an evaluation of attempts to redevelop its underlying vision of economic behaviour. Particular attention is paid to the treatment of expectations and anticipations. The second part of the book presents a behavioural framework which is compatible with an evolutionary perspective on economic behaviour. The third part of the book discusses the implications of adopting an evolutionary approach to macroeconomic theory, empirical methods and policy design, culminating in a specific policy proposal to cure stagflation.

Author : Arthur E. Gandolfi,Anna Sachko Gandolfi,David P. Barash
Publisher : Transaction Publishers
Page : 302 pages
File Size : 49,6 Mb
Release : 2024-07-01
Category : Business & Economics
ISBN : 1412822157

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Economics As an Evolutionary Science by Arthur E. Gandolfi,Anna Sachko Gandolfi,David P. Barash Pdf

A synthesis of economics and evolution. The authors suggest an expanded definition of "fitness", emphasizing not only the importance of reproduction and the quality of offspring, but also taking into account the ability of human beings to provide material wealth to their children.

Author : Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Taniguchi
Publisher : Springer
Page : 346 pages
File Size : 48,9 Mb
Release : 2019-06-27
Category : Business & Economics
ISBN : 9784431552673

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Microfoundations of Evolutionary Economics by Yoshinori Shiozawa,Masashi Morioka,Kazuhisa Taniguchi Pdf

This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.

Author : David Hamilton
Publisher : Routledge
Page : 184 pages
File Size : 46,7 Mb
Release : 2017-07-05
Category : Business & Economics
ISBN : 9781351521284

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Evolutionary Economics by David Hamilton Pdf

In reviewing this book in The Economic Journal, S.G. Checkland said that it should be read as a vigorous attempt to relate economics to general thinking and as a challenge to those who are practitioners or elaborators of narrowly prescribed techniques.

Author : Kurt Dopfer
Publisher : Cambridge University Press
Page : 604 pages
File Size : 46,7 Mb
Release : 2005-05-23
Category : Business & Economics
ISBN : 1139443232

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The Evolutionary Foundations of Economics by Kurt Dopfer Pdf

It is widely recognised that mainstream economics has failed to translate micro consistently into macro economics and to provide endogenous explanations for the continual changes in the economic system. Since the early 1980s, a growing number of economists have been trying to provide answers to these two key questions by applying an evolutionary approach. This new departure has yielded a rich literature with enormous variety, but the unifying principles connecting the various ideas and views presented are, as yet, not apparent. This 2005 volume brings together fifteen original articles from scholars - each of whom has made a significant contribution to the field - in their common effort to reconstruct economics as an evolutionary science. Using meso economics as an analytical entity to bridge micro and macro economics as well as static and dynamic realms, a unified economic theory emerges.

Author : Norman Clark,Calestous Juma
Publisher : Bloomsbury Publishing
Page : 246 pages
File Size : 48,5 Mb
Release : 2013-11-07
Category : Business & Economics
ISBN : 9781472511621

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Long-run Economics by Norman Clark,Calestous Juma Pdf

A major problem of conventional economic theory as applied to long-run economic change is its unduly narrow and static character, which compromises its capacity to handle conceptually a social process inherently systemic, complex and dynamic. At the same time there is a growing realization in relevant government and industrial circles (reinforced by the example of Japan) that effective economic policy-making needs a strategic, and therefore a technological, content. Long-Run Economics suggests a more realistic conceptual framework for the analysis of economic and technological change. Borrowing from other disciplines, such as sociology, psychology and biology, the authors develop a model that is evolutionary and systemic in character. Special emphasis is given to the role of information flows in the innovative process, while the overall argument is illustrated by two case studies, photovoltaics and fuel ethanol. Finally, the book stresses the strategic importance of science and technology policy and the role of appropriate institutions in facilitating long-run economic change.

Author : Kurt Dopfer,Jason Potts
Publisher : Unknown
Page : 0 pages
File Size : 44,5 Mb
Release : 2014
Category : Evolutionary economics
ISBN : 1843767260

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The New Evolutionary Economics by Kurt Dopfer,Jason Potts Pdf

This three volume set gathers together selected key articles in evolutionary economics, ordering these into domains of micro analysis - concerned with agents - meso analysis - which is concerned with rule populations and trajectories - and macro analysis, which is about the structure and development of the whole economy. This authoritative collection, with an original introduction by the editors, will be of interest to scholars and researchers seeking to understand how evolutionary economics fits together and who seek to advance such an integrated approach.

Author : Kenneth Ewart Boulding
Publisher : SAGE Publications, Incorporated
Page : 212 pages
File Size : 51,5 Mb
Release : 1981-07
Category : Business & Economics
ISBN : STANFORD:36105037374076

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Evolutionary Economics by Kenneth Ewart Boulding Pdf

A new model of economic life that looks at it in terms of ecological interaction and mutation is presented in Evolutionary Economics. It looks at commodities, for example, as if they were a species in the social ecosystem. Boulding describes his new model with clarity and wit, showing its roots in classical economics and exploring the prospects of an evolutionary approach for bettering human conditions.

Author : Kurt Dopfer
Publisher : Springer Science & Business Media
Page : 378 pages
File Size : 41,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401006484

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Evolutionary Economics: Program and Scope by Kurt Dopfer Pdf

Evolutionary Economics: Program and Scope offers a fresh look at the paradigmatic foundations and basic theoretical propositions of economics. Twelve authors - each of them with his own distinct contribution to economics - make a step forward by reinterpreting major areas of micro and macroeconomics in line with modern evolutionary thinking. This volume offers a unified approach to economics that allows recent developments in various strands of Evolutionary Economics to be integrated and major positions of Neoclassical Economics to be reconsidered. The chapters on `Evolutionary Macro Economics' explore macro areas such as the division of labor and knowledge, technology and institutions, population thinking, meso economics, techno-economic trajectories and industrial sectors. By telescoping structure into time, they highlight the processes of structural change and co-evolution between technologies and institutions, and provide a causal-explanatory core for a modern - evolutionary - theory of economic growth and economic development. The chapters on `Evolutionary Micro Economics' offer insights into the knowledge based theories of the firm and take up the issues of cognitive and behavioral routines. The contributions explore the processes of complex human choice, creativity, and adaptation in selective and path-dependent environments. The discussions make an essential contribution to the cognitive and behavioral foundations of a modern institutional economics.

Author : Tiziano Raffaelli
Publisher : Routledge
Page : 235 pages
File Size : 40,9 Mb
Release : 2003-08-29
Category : Business & Economics
ISBN : 9781134511105

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Marshall's Evolutionary Economics by Tiziano Raffaelli Pdf

Alfred Marshall was one of the most important economists ever to have lived. This excellent new book, from a Marshall expert respected the world over, attempts to show that Marshall anticipated some of the views that are now associated with the cognitive sciences. Examining Marshall's philosophy of the human mind, his overall approach to economics, his concern for socio-economic issues, and the fertility of his framework, this book breathes fresh life into the fascinating world of Marshallian economics.

Author : Masanao Aoki
Publisher : Cambridge University Press
Page : 312 pages
File Size : 41,5 Mb
Release : 1998-02-13
Category : Business & Economics
ISBN : 0521637694

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New Approaches to Macroeconomic Modeling by Masanao Aoki Pdf

This book provides a method for modeling large collections of heterogeneous agents subject to non-pairwise externality called field effects.

Author : Kurt Dopfer,Jason Potts
Publisher : Routledge
Page : 153 pages
File Size : 43,9 Mb
Release : 2007-09-27
Category : Business & Economics
ISBN : 9781134466870

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The General Theory of Economic Evolution by Kurt Dopfer,Jason Potts Pdf

The first book to chart the development of the field of evolutionary economics, this book provides an integrated generic framework to define the rules of an economic system; how they are coordinated and the causes and consequences of their change. Packed with pedagogical features including essay and tutorial questions, case studies and an extensive bibliography, this book: proposes a new analytic framework for the study of the nature and causes of long run economic growth and development in market systems analyzes the foundations of the neoclassical tradition, before developing a thesis through micro, meso and macro domains drawing conclusions as to what can be learned from the point of view of policy analysis focuses on an open-systems analytical framework and successfully formulates and refines the analytical foundations of a new general theory of economic evolution. This volume is essential reading for scholars and students of economic evolution and as well as for anyone who seeks to better understand the complex evolutionary nature of the structure and dynamics of the knowledge-based economy in today’s society.