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Promotion and Coevolutionary Dynamics in Contemporary Capitalism

Isabel Almudi () and Francisco Fatas-Villafranca ()

Journal of Economic Issues, 2018, vol. 52, issue 1, 80-102

Abstract: We characterize the dynamics of contemporary capitalist societies as emerging from the coevolution of five different subsystems: the intimate realm of individuals, the market, the state, civil society, and nature. We highlight a specific coevolution mechanism between some of these subsystems, which we call promotion. The insights from this coevolution approach are twofold. On one hand, from the ontological and heuristic perspectives, we argue that our proposal opens the possibility for constructing a general, interpretative framework in evolutionary economics. On the other hand, from a theoretical-explanatory perspective, we detect certain coevolution paths that may engender global pathologies in capitalist societies. We also suggest that future research may explore some normative implications of this approach, as well as alternative methodological strategies to develop it.

Date: 2018
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DOI: 10.1080/00213624.2018.1430943

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Handle: RePEc:mes:jeciss:v:52:y:2018:i:1:p:80-102