Modern economies never come to rest. From institutions to activities of production, trade, and consumption, everything is locked in processes of perpetual transformation – and so are our daily lives. Why and how do such transformations occur? What can economic theory tell us about these changes and where they might lead? Ulrich Witt’s book discusses why evolutionary concepts are necessary to answer such questions. While economic evolution is in many respects unique, it nonetheless needs to be seen within the broader context of natural evolution. By exploring this complex relationship, Rethinking Economic Evolution demonstrates the significance of an evolutionary economic theory.
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Essays on Economic Change and its Theory
Glen Atkinson and Stephen P. Paschall
Law and economics are interdependent. Using a historical case analysis approach, this book demonstrates how the legal process relates to and is affected by economic circumstances. Glen Atkinson and Stephen P. Paschall examine this co-evolution in the context of the economic development that occurred in the nineteenth and early twentieth centuries as well as the impact of the law on that development. Specifically, the authors explore the development of a national market, the transformation of the corporation, and the conflict between state and federal control over businesses. Their focus on dynamic, integrated systems presents an alternative to mainstream law and economics.
Explaining the Flight of the Bumblebee
Gunnar L.H. Svendsen and Gert T. Svendsen
Denmark exemplifies the puzzle of socio-economic success in Scandinavia. Populations are thriving despite the world’s highest levels of tax and generous social benefits. Denmark would appear to be a land of paradise for free-riders and those who want ‘money for nothing’. However, the national personality is characterized both by cooperation in everyday life and the numerous ‘hard-riders’ who make extraordinary contributions. Applying Bourdieuconomics, the authors focus on contemporary case studies to explain how social capital and trust are used to counteract free-riding and enable the flight of the Scandinavian welfare state ‘bumblebee’.
Entrepreneurs, Multinational Enterprises and Policy
Edited by Maureen McKelvey and Sharmistha Bagchi-Sen
Innovation Spaces in Asia provides insight into how and why Asia is poised to impact global innovation. Asia is undergoing rapid developments in markets, sources of technology and user preferences. A key characteristic of the book is the rich empirical understanding of the dynamic processes, involving the strategic decisions of firms and entrepreneurs with the broader socio-economic environment in terms of institutions, markets, knowledge and innovation systems. Innovation spaces are analyzed within Asian countries and firms, from Asia to the world, and from the world to Asian countries.
University–Industry Interactions in the Global South
Edited by Eduardo Albuquerque, Wilson Suzigan, Glenda Kruss and Keun Lee
Interactions between firms and universities are key building blocks of innovation systems. This book focuses on those interactions in developing countries, presenting studies based on fresh empirical material prepared by research teams in 12 countries from three continents. The result is a more universal and dynamic view of the shaping and reshaping of interactions between firms and universities throughout different countries and phases of development. There are dimensions of those interactions that cannot be seen in the US, Europe or Japan. There are aspects and features of interactions that cannot be seen when we investigate Uganda, China or Mexico alone. In a time of increasing internationalization, interactions between firms and universities must be investigated tracking their international linkages. Professor Richard Nelson (Columbia University) writes in his preface: "The studies reported in this book are among the first to be directed to what is going on in developing countries".
Edited by Susana Borrás and Jakob Edler
Examining the ‘who’ (agents), ‘how’ (policy instruments) and ‘why’ (societal legitimacy) of the governance process, this book presents a conceptual framework about the governance of change in socio-technical systems. Bridging the gap between disciplinary fields, expert contributions provide innovative empirical cases of different modes of governing change. The Governance of Socio-Technical Systems offers a stepping-stone towards building a theory of governance of change and presents a new research agenda on the interaction between science, technology and society.
In this thought-provoking book, Bart Nooteboom offers a radical critique of the principal intellectual and moral assumptions underlying economic science, unravelling the notion of markets: how they work and fail, and how they may be redirected to better serve us.
Stan J. Liebowitz and Stephen E. Margolis
Since their first emergence in the work of Paul David thirty years ago, the dual issues of Path Dependence and Lock-In have become critically important subjects in the fields of economics, sociology, and business strategy. Theoretical and public policy debates on these issues have arisen, addressing whether markets consistently choose the best products. This research review presents each side of the debate, bringing together key publications that initiated this literature with the later works that criticize or defend many of the early claims. Both the theoretical and empirical foundations of Path Dependence and Lock-In are examined along with the role of network effects.
Kurt Dopfer and Jason Potts
This research review gathers together selected key articles in evolutionary economics, ordering these into the domains of micro analysis (concerned with agents), meso analysis (concerned with rule populations and trajectories) and macro analysis (concerned with the structure and development of the whole economy).
Computer-based Tools for Rethinking Innovation
Christopher Watts and Nigel Gilbert
Christopher Watts and Nigel Gilbert explore the generation, diffusion and impact of innovations, which can now be studied using computer simulations.