The paper starts from Schumpeter's proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, ‘creative destruction' leads to economic... more
The paper starts from Schumpeter's proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, ‘creative destruction' leads to economic development ‘from within' (macro). It is argued that Schumpeter's approach can be developed into a new—more general—micro-meso-macro framework in economics. Center stage is meso. Its essential characteristic is bimodality, meaning that one idea (the generic rule) can be physically actualized by many agents (a population). Ideas can relate to others, and, in this way, meso constitutes a structure component of a ‘deep' invisible macro structure. Equally, the rule actualization process unfolds over time—modelled in the paper as a meso trajectory with three phases of rule origination, selective adoption and retention—and here meso represents a process component of a visible ‘surface' structure. The macro measure with a view to the appropriateness...
This important volume of original essays by a distinguished group of scholars from the evolutionary, institutional and socio-economic schools makes a major contribution to the reconstruction of political economy as an evolutionary science.
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... Page 3. Theory and History: Japan 23 What we call Gerschenkron's point is identified at around 1905-1906. ... It should not be too difficult Page 5. Theory and History: Japan 25 to see that determinism and repeatability... more
... Page 3. Theory and History: Japan 23 What we call Gerschenkron's point is identified at around 1905-1906. ... It should not be too difficult Page 5. Theory and History: Japan 25 to see that determinism and repeatability are horses of different colors. ...
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While still a student, Boulding wrote a paper on displacement costs, which was published in the Economic Journal-at the time edited by John Maynard Keynes. For two years, he studied econometrics at the University of Chicago with Henry... more
While still a student, Boulding wrote a paper on displacement costs, which was published in the Economic Journal-at the time edited by John Maynard Keynes. For two years, he studied econometrics at the University of Chicago with Henry Schultz, one of the founders of the field. Frank Knight, another teacher, helped the young graduate to further early recognition by writing an article on Mr. Boulding and the Austrians. Finally, Boulding spent a semester at Harvard, where he wrote a paper on Boehm-Bawerk for a seminar conducted by Joseph Schumpeter in which he criticized the attempt to discover conditions of equilibrium in systems that are, by their very nature, in disequilibrium. In 1934, he published an article in the Quarterly Journal of Economics about the application of the pure theory of population to the theory of capital-an analysis that left its traces in his future work.
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Economics has always been in a crisis since it broke away from social philosophy in the late eighteenth century. But from time to time this crisis has been particularly acute. Such was the case at the turn of the last century when the... more
Economics has always been in a crisis since it broke away from social philosophy in the late eighteenth century. But from time to time this crisis has been particularly acute. Such was the case at the turn of the last century when the classical predictions proved less and less true and, in response, the marginalist schools emerged. Such also was the case at the beginning of the 1930s when the proof of the established harmony propounded in that theory was contradicted by the Great Depression, giving rise to the new macroeconomics pioneered by Keynes. There is nodoubt that contemporary economics is in a crisis, at least if crisis is defined as the inability to meet the challenge of the times. Problems like mass poverty, unbalanced affluence, increasing regional economic disparities, imbalances in population development, irrational disposition of non-renewable resources, and production and consumption processes ill-adjusted to the limited carrying capacity of the environment are among many pressing problems awaiting solution by economists.
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A scholar’s theory is part of his biography. It may be different perhaps in physics, but few economists would disagree entirely with this opinion. In any case, it is hard not to recognise the connections between the eventful life of Ota... more
A scholar’s theory is part of his biography. It may be different perhaps in physics, but few economists would disagree entirely with this opinion. In any case, it is hard not to recognise the connections between the eventful life of Ota Sik and his theories.1 Demonstration of this is facilitated by the fact that his biography falls into two easily distinguishable parts: the ‘Eastern’ and the ‘Western’.
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This chapter suggests a methodology for semantic enrichment of spatial data resulting from economic behavior. The proposed methodology has a universal scope and could be applied to any behavior involving the movement of an entity for... more
This chapter suggests a methodology for semantic enrichment of spatial data resulting from economic behavior. The proposed methodology has a universal scope and could be applied to any behavior involving the movement of an entity for economic reasons. The proposed methodology has its foundations in an evolutionary approach and subscribes to the axioms of evolutionary ontology. The proposed methodology is in line with Kuhn’s claim for the design of ontologies with a focus on human activities in geographic space; but rather than applying text analysis and limiting the focus to ontology in information science, the author enriches the semantic reference system of economic movement data with an ontology based on the general analytical framework of economic evolution stated in terms of a unified rule approach. This, the authors argue, results in an analytical ontology of geographic space and an enhanced understanding of economic movement data. The ontological, analytical, and theoretical ...
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... ab, bc, cd, de,.., stand for equal time intervals, and the vertical axis q ... Behavior and resources: an integration qb = Resource domain b__B = Behavioral continuum tT = Time related to ... The theoretical problems that arise when... more
... ab, bc, cd, de,.., stand for equal time intervals, and the vertical axis q ... Behavior and resources: an integration qb = Resource domain b__B = Behavioral continuum tT = Time related to ... The theoretical problems that arise when applying conventional concepts of the phenomena of ...
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This paper attempts a fresh look at Schumpeter’s theoretical edifice. The purpose is not to give a comprehensive or complete account of Schumpeter’s approach; magisterial works providing exactly this already exist, such as those by... more
This paper attempts a fresh look at Schumpeter’s theoretical edifice. The purpose is not to give a comprehensive or complete account of Schumpeter’s approach; magisterial works providing exactly this already exist, such as those by Wolfgang Stolper (1994), Richard Swedberg (1991), Mark Perlman and Charles McCann (1998) and Yuichi Shionoya (1997). Instead, we investigate the theoretical corpus of Schumpeter’s economics with a view to its possible and actual influence on the construction of a modern Neo-Schumpeterian programme. We shall, on the one hand, briefly highlight the generic architecture of economics as inspired by Schumpeter’s work, and, on the other hand, discuss Schumpeter’s specific theoretical positions against this background. Turning to the latter, not only do we draw on Schumpeter’s theoretical work directly but we also try to achieve a deeper understanding of his theory by looking at the way in which he criticises competing positions, in particular those of classical and neoclassical economics. This will provide us with an idea of what Schumpeter thought a good theory to be.
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We propose that a general analytic framework for cultural science can be constructed as a generalization of the generic micro meso macro framework proposed by Dopfer and Potts (2008). This paper outlines this argument along with some... more
We propose that a general analytic framework for cultural science can be constructed as a generalization of the generic micro meso macro framework proposed by Dopfer and Potts (2008). This paper outlines this argument along with some implications for the creative industries research agenda.
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The paper unravels the subversive nature of Schumpeter’s proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, 'creative destruction’... more
The paper unravels the subversive nature of Schumpeter’s proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, 'creative destruction’ leads to economic development 'from within’ (macro). It is argued that Schumpeter paved the way for a new micro–meso–macro framework in economics. Centre stage is meso. Its essential characteristic is bimodality, meaning that one idea (the generic rule) can be physically actualised by many agents (a population). Ideas can relate to others, and, in this way, meso constitutes a structure component of a 'deep’ invisible macro structure. Equally, the rule actualisation process unfolds over time – modelled in the paper as a meso trajectory with three phases of rule origination, selective adoption and retention – and here meso represents a process component of a visible 'surface’ structure. The universal macro measure with a view to the appropriateness of meso components is generic correspondence. At the level of ideas, its measure is order; at that of actual relative adoption frequencies, it is generic equilibrium. Economic development occurs at the deep level as transition from one generic rule to another, inducing a change of order, and at the surface level as the new rule is adopted, destroying an old equilibrium and establishing a new one. The final third of the paper discusses a few of the rich set of major contributions to the Neo-Schumpeterian – micro-meso-macro - programme
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... Efficacy is the quality of rules working together. The micro agent is a carrier of knowledge and therefore has a mind which it uses to observe the outside world (institutions and behaviour) and its own inner world of ideas (cognition... more
... Efficacy is the quality of rules working together. The micro agent is a carrier of knowledge and therefore has a mind which it uses to observe the outside world (institutions and behaviour) and its own inner world of ideas (cognition and rationality). ...
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This essay addresses issues related to the History of Economic Thought, Comparative Economic Analysis, and Institutional Economics alluded to in Mark Perlman's “The Character of Economic Thought, Economic Characters, and Economic... more
This essay addresses issues related to the History of Economic Thought, Comparative Economic Analysis, and Institutional Economics alluded to in Mark Perlman's “The Character of Economic Thought, Economic Characters, and Economic Institutions”. Specifically, some differences between the strands of American Institutionalism and Schumpeterian economics are brought into focus. Against the background of a review, the ideas of a major participant in the historical analysis of economic thought are discussed. The conclusion is that an evolutionary approach to economics would benefit from any attempt to substitute systematic-discursive theorizing for the received genre of an abstract-deductive approach.
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... Efficacy is the quality of rules working together. The micro agent is a carrier of knowledge and therefore has a mind which it uses to observe the outside world (institutions and behaviour) and its own inner world of ideas (cognition... more
... Efficacy is the quality of rules working together. The micro agent is a carrier of knowledge and therefore has a mind which it uses to observe the outside world (institutions and behaviour) and its own inner world of ideas (cognition and rationality). ...
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What is evolutionary economics? What are its paradigmatic-ontological foundations, and what would an evolutionary research program for economics look like? How do evolutionary ideas fit in with existing research programs and teaching... more
What is evolutionary economics? What are its paradigmatic-ontological foundations, and what would an evolutionary research program for economics look like? How do evolutionary ideas fit in with existing research programs and teaching curricula? Questions like these need to be considered by economists given the increasing number of publications which employ an evolutionary approach and the establishment of new scientific societies and journals which carry the label “evolutionary”. The present volume brings together ten papers by economists who have made outstanding contributions to various fields of evolutionary economics.
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The paper discusses the micro foundations of evolutionary economics, introducing a unified concept of the economic agent as a rule maker and rule user. Based on recent findings of the neuronal, cognitive and behavioral sciences, Homo... more
The paper discusses the micro foundations of evolutionary economics, introducing a unified concept of the economic agent as a rule maker and rule user. Based on recent findings of the neuronal, cognitive and behavioral sciences, Homo Sapiens Oeconomicus emerges as an alternative to Homo Oeconomicus. A taxonomy of rules distinguishing between cognitive, behavioral and blueprint rules and a set of theoretical propositions related to the structure and evolution of those rules are suggested.
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. This essay addresses issues related to the History of Economic Thought, Comparative Economic Analysis, and Institutional Economics alluded to in Mark Perlman's “The Character of Economic Thought, Economic Characters, and Economic... more
. This essay addresses issues related to the History of Economic Thought, Comparative Economic Analysis, and Institutional Economics alluded to in Mark Perlman's “The Character of Economic Thought, Economic Characters, and Economic Institutions”. Specifically, some differences between the strands of American Institutionalism and Schumpeterian economics are brought into focus. Against the background of a review, the ideas of a major