{"product_id":"an-evolutionary-theory-of-economic-change-9780674272286","title":"An Evolutionary Theory of Economic Change","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eNelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003eThe book ranges from subtle theoretical analyses of the nature of choice to highly explicit mathematical modeling, from the theory of the firm to the theory of bureaucratic agencies. It is very engagingly written, and conveys extremely well the dilemma that must haunt any social scientist worth his salt: the necessity of choosing between realism and simplicity as guides to theory construction. -- Jon Elster * London Review of Books *\u003cbr\u003e[An] extremely interesting book… This volume increases one’s confidence that, after all these years, Schumpeter’s intuition can be stated in a formally respectable way, and therefore that the field of industrial organization can begin solving its most important problems. * Journal of Comparative Economics *\u003cbr\u003eAn important and interesting book. * Journal of Political Economy *\u003cbr\u003eThe book spans an enormous literature—dealing with economics as a process, evolutionary modeling, Schumpeterian competition, organization form, and the like—and performs important interpretive and integrative functions. Mainly, however, the book represents a significant original research contribution in both methodological and substantive respects. It will influence teaching, research, and public policy relating to complex economic systems for years to come. While the book is written by and primarily for economists, it is broadly conceived and should impact social science research quite generally. -- Oliver Williamson, University of Pennsylvania\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eI. OVERVIEW AND MOTIVATION   1. Introduction   2. The Need for an Evolutionary Theory    II. ORGANIZATION-THEORETIC FOUNDATIONS OF ECONOMIC EVOLUTIONARY THEORY   3. The Foundations of Contemporary Orthodoxy   4. Skills   5. Organizational Capabilities and Behavior    III. TEXTBOOK ECONOMICS REVISITED   6. Static Selection Equilibrium   7. Firm and Industry Response to Changed Market Conditions    IV. GROWTH THEORY   8. Neoclassical Growth Theory: A Critique   9. An Evolutionary Model of Economic Growth   10. Economic Growth as a Pure Selection Process    11. Further Analysis of Search and Selection    V. SCHUMPETERIAN COMPETITION   12. Dynamic Competition and Technical Progress   13. Forces Generating and Limiting Concentration under Schumpeterian Competition   14. The Schumpeterian Tradeoff Revisited    VI. ECONOMIC WELFARE AND POLICY   15. Normative Economics from an Evolutionary Perspective   16. The Evolution of Public Policies and the Role of Analysis    VII. CONCLUSION   17. Retrospect and Prospect    References   Index","brand":"Harvard University Press","offers":[{"title":"Default Title","offer_id":48865485390167,"sku":"9780674272286","price":34.81,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780674272286.jpg?v=1722274194","url":"https:\/\/bookcurl.com\/products\/an-evolutionary-theory-of-economic-change-9780674272286","provider":"Book Curl","version":"1.0","type":"link"}