Abstract:
Meta-rules, or rules for making rules, determine the costs of innovation and thus the pace of economic growth. Adapting rules to a changing economic environment through explicit, well-designed meta-rules makes economic growth quicker, less painful, and more certain than adapting rules through chance-based evolution.
Keywords:meta; theory; economics of economics; evolutionary economics (search for similar items in EconPapers) JEL-codes:B25E11 (search for similar items in EconPapers) New Economics Papers: this item is included in nep-cdm, nep-evo and nep-mfd Date: 2001-09-05, Revised 2001-12-27 Note: Type of Document - Adobe Acrobat 3.0; prepared on Windows 98; to print on Adobe Acrobat 3.0; pages: ; figures: Included in pdf file View list of references