In search of a suitable heuristic for evolutionary economics: from generalized Darwinism to economic self-organisation.

Foster, John (2021): In search of a suitable heuristic for evolutionary economics: from generalized Darwinism to economic self-organisation.

Abstract

The generalised Darwinism heuristic for application in evolutionary economics is evaluated. Although conceptually useful, it is found to be lacking as a basis for empirical research. Instead, the economic self-organisation heuristic is offered as a viable scientific alternative which has an explicit connection with an augmented logistic diffusion methodology which can be applied directly to the modelling of historical data in phases of economic growth. It is also argued that economists cannot analyse economic evolution without the parallel involvement of researchers from other disciplines.

• Item Type: MPRA Paper
• Language: English
• Keywords: Evolutionary economics, complex economic system, generalised Darwinism, economic self-organisation, logistic diffusion
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes

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