Abstract
Much theoretical and empirical work by economists and psychologists has shown that the neo-classical approach is defective, and economists are now looking for an alternative. Evolutionary economics is the answer. It starts from the realistic premise that society and the economy are shaped by competition, but unlike neo-classical economics, it proceeds empirically by observing and analysing what has been happening to the economy and society. It does so on the premise that a process of social selection is taking place, analogous but not identical to that of biological selection. This dynamic approach requires a revival of economic history. By reporting on, and inviting debate over, what is happening and its implications, the adoption of an evolutionary approach should help restore the moral content of economics and the surrounding social sciences. Such a change in approach would be a paradigm shift, and will take time. That it will happen is likely: in the end facts kick.
Keywords
Get full access to this article
View all access options for this article.
References
Supplementary Material
Please find the following supplemental material available below.
For Open Access articles published under a Creative Commons License, all supplemental material carries the same license as the article it is associated with.
For non-Open Access articles published, all supplemental material carries a non-exclusive license, and permission requests for re-use of supplemental material or any part of supplemental material shall be sent directly to the copyright owner as specified in the copyright notice associated with the article.
