An evolutionary theory of economic change / Richard R. Nelson and Sidney G. Winter.

By: Nelson, Richard B [author.]Contributor(s): Winter, Sidney G [author. ]Material type: TextTextLanguage: English Publisher: Cambridge, Massachusetts : London, England : The Belknap Press of Harvard University Press. 1982Copyright date: ©1982Description: xi, 437 pages : charts ; 24 cmContent type: text Media type: unmediated Carrier type: volumeISBN: 0674272285 (paperback)Subject(s): Economics | Economic development | Organizational changeLOC classification: HB71 .N44 1982
Contents:
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.
Summary: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Richard R. Nelson and Sidney G. 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.--backover. https://www.abebooks.com/9780674272286/Evolutionary-Theory-Economic-Change-Belknap-0674272285/plp
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Books MEF Üniversitesi Kütüphanesi
Genel Koleksiyon HB 71 .N44 1982 (Browse shelf (Opens below)) Available 0020572

"To Katherine Margo Laura,
Georgie Jeff Kıt."

Includes bibliographical references (pages 417-430) and index (431-437).

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.

This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Richard R. Nelson and Sidney G. 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.--backover.

https://www.abebooks.com/9780674272286/Evolutionary-Theory-Economic-Change-Belknap-0674272285/plp