An Evolutionary Theory of Economic Change

An Evolutionary Theory of Economic Change
Title An Evolutionary Theory of Economic Change PDF eBook
Author Richard R. Nelson
Publisher Harvard University Press
Pages 456
Release 1985-10-15
Genre Business & Economics
ISBN 9780674041431

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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 search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Evolutionary Economics and the New International Political Economy

Evolutionary Economics and the New International Political Economy
Title Evolutionary Economics and the New International Political Economy PDF eBook
Author John De la Mothe
Publisher Psychology Press
Pages 344
Release 1996
Genre Business & Economics
ISBN 9781855671577

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Evolutionary economics focuses on the theory of the firm, organizational behavior and the role of technological change to reassess in a non-orthodox way the factors which motivate firms and individuals on a national and international level. With the heightened level of economic interaction, modern socio-economies are increasingly being shaped by their trade patterns and their innovation activities. In recent years it has become equally clear that standard neo-classical and fashionable "public choice" approaches to trade and economic growth are incapable of explaining the current "drift" of capitalist economies, or of guiding, in any practical way, the formulation of either publication innovation and trade policies or corporate strategies. The evolutionary approach is gaining currency amongst academics in business and management studies, as it embraces political and philosophical debates about the economy. This text brings together leading authorities in the field to examine and explain in a lucid, clear andauthoritative way the changing nature of relations within and between national economies.

The American Political Economy

The American Political Economy
Title The American Political Economy PDF eBook
Author Marc Allen Eisner
Publisher Routledge
Pages 321
Release 2013-12-17
Genre Political Science
ISBN 113461280X

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Policy debates are often grounded within the conceptual confines of a state-market dichotomy, as though the two existed in complete isolation. In this innovative text, Marc Allen Eisner portrays the state and the market as inextricably linked, exploring the variety of institutions subsumed by the market and the role that the state plays in creating the institutional foundations of economic activity. Through a historical approach, Eisner situates the study of American political economy within a larger evolutionary-institutional framework that integrates perspectives in American political development and economic sociology. This volume provides a rich understanding of the complexity of U.S. economic policy, explaining how public policies become embedded in bureaucracy and reinforced by organized beneficiaries and public expectations. This path-dependent layering process helps students better understand the underlying historical dynamics, which provide a clearer sense of the constraints faced by policymakers now and in the future. The revisions to the second edition include: Complete rewrite of the chapter on the recent financial crisis, adding in commentary on the debt ceiling, the fiscal cliff, and other recent events. New material added and existing material updated in the chapter discussing the two welfare states. Extensive updates to the coverage of the global economy Expanded and updated discussion of Obama’s economic policies. Updates to figures and data throughout the text.

The Theoretical Evolution of International Political Economy

The Theoretical Evolution of International Political Economy
Title The Theoretical Evolution of International Political Economy PDF eBook
Author George T. Crane
Publisher Oxford University Press, USA
Pages 354
Release 1997
Genre Business & Economics
ISBN 9780195094435

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This collection of classic and contemporary readings charts the historical and theoretical evolution of the field. This is a valuable resource for students and teachers of international relations and international economics.

Global Political Economy

Global Political Economy
Title Global Political Economy PDF eBook
Author Robert O'Brien
Publisher Bloomsbury Publishing
Pages 442
Release 2020-04-03
Genre Political Science
ISBN 1352009501

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Offering an accessible introduction to both the historical roots and the contemporary dynamics of today's world economy, the extensively revised sixth edition of this bestselling textbook continues to lead the way in equipping students with the knowledge required to make sense of the fast-paced discipline of Global Political Economy. Illustrating the breadth of the subject, the book's authors – both highly regarded experts in the field – show how the national and international interact, while also placing an emphasis on the historical evolution of the world economy in order to appreciate the nuances of today's economic structures. The global economy is traced from the Industrial Revolution through each phase of a shifting world order to the modern day. Then follows an engaging exploration of the dynamics of today's economy, including: trade, production, finance, labour, gender, development, the environment, security and governance. This takes into account the latest developments in the global economy, from automation and the challenges posed to the labour force, to artificial intelligence and the increasing complex, global supply chains of modern transnational firms. This is the most authoritative and accessible textbook on global political economy, making it the ideal companion for students at undergraduate and postgraduate levels, on politics, international relations and related degrees. New to this Edition: - Extensively updated to feature the latest empirical developments, including rising economic nationalism, US trade wars with China, and populism. - Brand new boxed features illustrate the latest dynamics, including the impact of digital technologies, artificial intelligence and automation, and the growth and consequences of increasing inequality. - Greater coverage of the sustained threats to the liberal international order and likely future scenarios.

Global Political Economy

Global Political Economy
Title Global Political Economy PDF eBook
Author Ronen Palan
Publisher Psychology Press
Pages 310
Release 2000
Genre Business & Economics
ISBN 0415204887

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The text aims to provide succinct summaries of topical, wide-ranging issues and controversies, presenting a compact guide which should be of use to students and lecturers in IPE and international relations.

Evolutionary Economic Geography

Evolutionary Economic Geography
Title Evolutionary Economic Geography PDF eBook
Author Miroslav Jovanovic
Publisher Routledge
Pages 511
Release 2008-10-07
Genre Business & Economics
ISBN 1134098464

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The purpose of this book is to provide a guided tour through the theoretical foundations of spatial locations of firms and industries in an evolutionary economic framework. It addresses the issues of how a location of business in geographical space is selected and where economic activity may (re)locate in the future. The analysis is in the context