Essays on Economic Change and its Theory
Chapter 9: Evolutionary economics and psychology
Evolutionary economics focuses on the transformation of the economy over time and the consequences this has for the current conditions of production and consumption. The sources of the transformation process are human learning, problem solving, and the accumulation of knowledge and capital. The diversity of individual efforts and capabilities with respect to both learning and innovation results at any time in the generation and diffusion of a variety of innovative technologies, institutions, and commercial activities that compete with each other.
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