Schumpeter and Georgescu-Roegen on the Foundations of an Evolutionary Analysis

Christoph Heinzel

No 12-08, Working Papers SMART from INRAE UMR SMART

Abstract: Qualitative change is widely recognized as a defining feature of evolution. Schumpeter and Georgescu-Roegen put it at the center of their methodological reasoning. I revisit important contributions of these two authors, paying attention to the immediate relationship of the major traits and treated issues between their works. With reference to qualitative change, their joint approach provides answers as to (i) why an evolutionary analysis has to necessarily apply a varied less formal set of methods as compared to modern static and dynamic analysis, (ii) why an evolutionary analysis is a necessary component of economic analysis, and (iii) how it can be seen as complementary to modern statics and dynamics. They argued for methodogical pluralism, where the choice of methods shall derive from close observation of the subject matter under scrutiny. Georgescu-Roegen's reasoning shows the necessity of interdisciplinary contributions and the interrelation of economic activity and environmental impact and constraints, putting environmental issues immediately on the evolutionary economics agenda. The paper provides a new ground for evaluating Georgescu-Roegen's own and their joint contribution to modern research.

Keywords: Schumpeter; Georgescu-Roegen; qualitative change; evolution; evolutionary methodology (search for similar items in EconPapers)
JEL-codes: B25 B31 B41 O10 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2012
New Economics Papers: this item is included in nep-env, nep-evo, nep-hme, nep-hpe and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Schumpeter and Georgescu-Roegen on the foundations of an evolutionary analysis (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:rae:wpaper:201208

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