Evolutionary economics and technological change

V. Mayevsky

Economy and Forecasting, 2001, issue 4, 37-51

Abstract: Three questions are considered in this paper. First, evolutionary economics reflects peculiarities of technically advancing economy more precisely than orthodoxy which dominates in modern economic science. Second, evolutionary economics is able to influence the established patterns of economic policy including the view at investments as financed only by savings. From the standpoint of evolutionary economics, the latter statement should be complemented by the thesis about the possibility of credit emission against future incomes, that is, emission not provided by accumulated savings. Third, there are many valuable applied works of evolutionary kind carried out by experts in corporations, firms, and financial units beyond evolutionary economics. Now it is relevant to integrate evolutionary economics with applied evolutionary analysis so as to develop a new unified scientific school of both theoretical and practical character.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:eip:journl:y:2001:i:4:p:37-51

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