Economic Systems in Evolution: Historical Transformations and Adaptive Patterns

Klaus Solberg Söilen ()
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Klaus Solberg Söilen: Halmstad University

Chapter 4 in Applied Evolutionary Economics, 2025, pp 63-76 from Springer

Abstract: Abstract This chapter explores the evolution of economic systems through an explicitly evolutionary lens, emphasizing how societies adapt to systemic shocks via institutional, cultural, and technological coevolution. From prehistoric communities to today’s digital economies, we trace historical patterns of variation, selection, and adaptation that have defined economic transformation across eras. Drawing on concepts such as punctuated equilibrium, niche formation, and coevolution, the chapter argues that dynamic change—not equilibrium—is the norm in economic history. It also revisits intellectual traditions from Roscher to Schumpeter, showing how early economic thinkers approached change as an organic and developmental process, in contrast to the static, physics-inspired models dominant after the Second World War. We highlight how political shocks—not just scientific developments—shaped the trajectory of economic thought, sidelining evolutionary ideas for decades. Ultimately, evolutionary economics emerges not only as a descriptive tool for past transformations but also as a vital strategic framework for navigating future uncertainty.

Keywords: Evolutionary economics; Economic systems; Historical evolution; Institutional change; Cultural evolution; Technological adaptation; External shocks; Coevolution; Niche formation; Punctuated equilibrium; Schumpeter; Roscher; Georgescu-Roegen; Frisch; Complexity theory; Circular economy; Digital economy; AI systems; Fitness landscapes; Scenario planning (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-032-03683-4_4

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DOI: 10.1007/978-3-032-03683-4_4

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