Hodgson’s bibliometric report and the reconstruction plan of economics

Yuji Aruka

Evolutionary and Institutional Economics Review, 2018, vol. 15, issue 1, No 10, 189-202

Abstract: Abstract This article was originally designed to comment an unprecedented bibliometric study of evolutionary economics by Hodgson and Lamberg (Evol Inst Econ Rev 15, 2016). However, Hodgson only reported the historical trajectory and the current situations of evolutionary economics initiated by Nelson and Winter (An evolutionary theory of economic change. Belknap Press of Harvard University Press, Cambridge, 1982). He gave an insightful consideration about the raison d’être of evolutionary economics. According to his opinion, evolutionary economics is still failing to equip the core theories. We naturally agree with his remarks on the current situations around evolutionary economics. We take this opportunity to squarely address the subject about how to insert the core theories into evolutionary economics. We argue that the alternative candidates to be replaced with the main stream core theories are in the following ordering: (1) the theory of production to invalidate myopic optimization, (2) the theory of preference to invalidate myopic optimization, (3) the SMD Theorem to invalidate invisible hand, and (4) the market mechanism to invalidate the efficiency market hypothesis. Needless to say, the alternative theories shown in these arguments imply the reconstruction of economics. Finally, we address the current analysis of bibliometrics.

Keywords: Reconstruction of economics; Zonotope; Imperfect identification; AI market; Class 4; Bibliometrics (search for similar items in EconPapers)
JEL-codes: A10 D10 D20 D50 D70 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s40844-018-0094-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:eaiere:v:15:y:2018:i:1:d:10.1007_s40844-018-0094-9

Ordering information: This journal article can be ordered from
https://www.springer ... theory/journal/40844

DOI: 10.1007/s40844-018-0094-9

Access Statistics for this article

Evolutionary and Institutional Economics Review is currently edited by Kiichiro Yagi, Yuji Aruka and Takahiro Fujimoto

More articles in Evolutionary and Institutional Economics Review from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().