Economic Evolution (New Classics in Institutional Economics, Volume 2)

Author: Jack J. Foley
Publisher:
Publish Date: 2003-01-01
Features: This book integrates Williamson's transaction costs, Nelson and Winter's evolutionary theory, Hayek's spontaneous order, and the evolutionary concepts from biology and philosophy of science into a framework, providing a theoretical foundation for new institutional economics. The main contents of the book include: Economic Evolution, Preface, Introduction, Part I: Firms and Industries, The Choice Theory of Approving and Opposing the New Classical Theory of the Firm, Opening the Black Box: New Theories of the Firm, Modeling the Choice Theory: Nelson and Winter's Evolutionary Theory; Part II: Functional Explanations and Evolutionary Mechanisms, Functional Explanations, Two Evolutionary Mechanisms; Part III: Individuals and Groups, Altruism and Choice Units, Cultural Evolution of Behavioral Tendencies, Realist Reconstruction of Economic Evolutionary Theory, References, Index, Postscript by the Translator.