I. OVERVIEW AND MOTIVATION 1. Introduction 2. The Need for an Evolutionary Theory II. ORGANIZATION-THEORETIC FOUNDATIONS OF ECONOMIC EVOLUTIONARY THEORY 3. The Foundations of Contemporary Orthodoxy 4. Skills 5. Organizational Capabilities and Behavior III. TEXTBOOK ECONOMICS REVISITED 6. Static Selection Equilibrium 7. Firm and Industry Response to Changed Market Conditions IV. GROWTH THEORY 8. Neoclassical Growth Theory: A Critique 9. An Evolutionary Model of Economic Growth 10. Economic Growth as a Pure Selection Process 11. Further Analysis of Search and Selection V. SCHUMPETERIAN COMPETITION 12. Dynamic Competition and Technical Progress 13. Forces Generating and Limiting Concentration under Schumpeterian Competition 14. The Schumpeterian Tradeoff Revisited VI. ECONOMIC WELFARE AND POLICY 15. Normative Economics from an Evolutionary Perspective 16. The Evolution of Public Policies and the Role of Analysis VII. CONCLUSION 17. Retrospect and Prospect References Index
The book spans an enormous literature--dealing with economics as a process, evolutionary modeling, Schumpeterian competition, organization form, and the like--and performs important interpretive and integrative functions. Mainly, however, the book represents a significant original research contribution in both methodological and substantive respects. It will influence teaching, research, and public policy relating to complex economic systems for years to come. While the book is written by and primarily for economists, it is broadly conceived and should impact social science research quite generally. -- Oliver Williamson, University of Pennsylvania
Richard R. Nelson is George Blumenthal Professor of International and Public Affairs, Business, and Law, Emeritus, at Columbia University.
The book ranges from subtle theoretical analyses of the nature of
choice to highly explicit mathematical modeling, from the theory of
the firm to the theory of bureaucratic agencies. It is very
engagingly written, and conveys extremely well the dilemma that
must haunt any social scientist worth his salt: the necessity of
choosing between realism and simplicity as guides to theory
construction.
*London Review of Books*
[An] extremely interesting book… This volume increases one’s
confidence that, after all these years, Schumpeter’s intuition can
be stated in a formally respectable way, and therefore that the
field of industrial organization can begin solving its most
important problems.
*Journal of Comparative Economics*
An important and interesting book.
*Journal of Political Economy*
The book spans an enormous literature—dealing with economics as a
process, evolutionary modeling, Schumpeterian competition,
organization form, and the like—and performs important interpretive
and integrative functions. Mainly, however, the book represents a
significant original research contribution in both methodological
and substantive respects. It will influence teaching, research, and
public policy relating to complex economic systems for years to
come. While the book is written by and primarily for economists, it
is broadly conceived and should impact social science research
quite generally.
*Oliver Williamson, University of Pennsylvania*
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