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Why is economics not an evolutionary science?


Reference:

Veblen, T. and Boulton, J., 2010. Why is economics not an evolutionary science? Emergence: Complexity and Organisation, 12 (2), pp. 41-69.

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Abstract

A reprint of the article "Why is economics not an evolutionary science?," by T. Veblen, published in the "Quarterly Journal of Economics" is presented. The article questions the premise that physics of equilibrium thermodynamics is relevant to analyzing economic systems. The author suggested that the only rational approach is to assume that economies evolve. He also argues that the economy can be described but have no effective theory of change and development.

Details

Item Type Articles
CreatorsVeblen, T.and Boulton, J.
DepartmentsFaculty of Humanities & Social Sciences > Social & Policy Sciences
School of Management
RefereedYes
StatusPublished
ID Code26606

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