The main provisions of the evolutionary doctrine in economics
Keywords:
Economic Theory, Evolutionary Economics, Evolutionism, Institutional Economics.
Abstract
Today, in the economic theory, the mainstream is the following areas: neoclassical economic theory, neo-Keynesianism, monetarism, institutionalism. The basis of these areas is the principle of economic equilibrium. However, more and more economists see the economy not as an equilibrium, but, on the contrary, as a non-equilibrium system. In the framework of this study, the evolutionary economic theory is studied, which can become the theoretical basis for studying economics from the point of view of disequilibrium. For this purpose, the paper reveals the main provisions of evolutionary doctrine in economics, describes the evolutionary mechanisms of development in the economy (variability, heredity, selection, competition), defines the main elements of evolution in the economy (economic feasibility, levels of evolutionary transformation, evolutionary material in the economy, elementary evolutionary factors). This paper is part of a series that reveals the hypothesis that the evolutionary economic theory is a more general economic theory, from the position of which it is possible to more fully reveal the principles of behavior of individuals and institutions to maximize the satisfaction of material needs and on this basis to formulate an effective economic policy of individuals and institutions, including the state.
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References
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Nelson, R.R and Winter, S.G. (1982). An evolutionary theory of economic change. Cambridge: Harvard University Press.
Nusratullin, V.K. (2006). Nonequilibrium economy. 2nd edition. Moscow: Sputnik+ Company.
Penrose, E.T. (1952). Biological Analogies in the Theory of the Firm. American Economic Review, vol. 42, 804-819. Available at: https://www.jstor.org/stable/1812528
Prigorine, E. and Stengers, E. (1986). Order out of chaos. Moscow: Progress (in Russian).
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Sytnik, K.M. (1985). Biology Handbook. Kiev: Naukova Dumka (in Russian).
Veblen, T. (1898). Why is Economics Not an Evolutionary Science. The Quarterly Journal of Economics, vol. 12, issue 4, 373–397.
Winter, S.G. (1971). Satisficing, selection, and the innovating remnant. Quarterly Journal of Economics, vol. 85, issue 2, 237-261, https://doi.org/10.2307/1880703
Winter, S.G. (1987). Natural selection and evolution. In J. Eatwell, M. Milgate, & P. Newman (Eds.), The new palgrave: A dictionary of economics, Vol. 3. (pp. 614-617). London: MacMillan.
Yadgarov, Y.S. (2009). History of economic teachings. Moscow: INFRA-M (in Russian).
Zoidov, К.Kh. (2009). Evolutionary Approach and Its Significance for the Development of Economic Science in Post-Soviet Countries. Economics and Mathematical Methods, vol.45, issue 2, 96-112, Available at: https://econpapers.repec.org/article/scncememm/45-2-9.htm (in Russian).
Almudi, I., Fatas-Villafranca, F., Izquierdo, L.R. and Potts, J. (2017). The economics of utopia: a co-evolutionary model of ideas, citizenship and socio-political change. Journal of Evolutionary Economics, vol. 27, issue 4, 629-662, https://doi.org/10.1007/s00191-017-0507-7
Axelrod, R. (1997). The complexity of cooperation: agent-based models of competition and cooperation. Princeton: Princeton University Press.
Brennan, R. (2006). Evolutionary economics and the markets-as-networks approach. Industrial Marketing Management, vol. 35, issue 7, 829–838, https://doi.org/10.1016/j.indmarman.2006.05.014
Cantner, U., and Pyka, A. (1998) Technological evolution: an analysis within the knowledge-based approach. Structural Change and Economic Dynamics, vol. 9, issue 1, 85-107, https://doi.org/10.1016/S0954-349X(97)00038-6
Christophers, B. (2014). From Marx to market and back again: Performing the economy. Geoforum, vol. 57, 12-20, https://doi.org/10.1016/j.geoforum.2014.08.007
Coase, R.H. (1937). The nature of the firm. Economica, November 1937, 386-405, https://doi.org/10.1111/j.1468-0335.1937.tb00002.x
Darwin, C. (1859). The origin of species. London. Available at: http://www.greatliterature.org/darwin-charles/the-origin-of-species/index.htm
England, J.W. (1994). Evolutionary Concepts in Contemporary Economics. Ann Arbor, MI: University of Michigan Press.
Gilbert, G. (1997). Adam Smith on the Nature and Causes of Poverty, Review of Social Economy, vol.55, issue 3,273-291, https://doi.org/10.1080/00346769700000001
Hassan, M.K. and Aliyu, S. (2018).A contemporary survey of Islamic banking literature. Journal of Financial Stability, vol. 34, 12-43, https://doi.org/10.1016/j.jfs.2017.11.006
Hiç, Ö. (2019). Evolution of New Keynesian Economics. Procedia Computer Science, vol. 158, 1025-1032, https://doi.org/10.1016/j.procs.2019.09.144
Hodgson, G.M. (2013). From Pleasure Machines to Moral Communities: An Evolutionary Economics Without Homo Economicus. Chicago: University of Chicago Press.
Hudea (Caraman), O.S. (2015). Classical, Neoclassical and New Classical Theories and Their Impact on Macroeconomic Modelling. Procedia Economics and Finance, vol. 23, 309-312, https://doi.org/10.1016/S2212-5671(15)00506-7
Kenning, P. and Plassmann, H. (2005). NeuroEconomics: An overview from an economic perspective. Brain Research Bulletin, vol. 67, issue 5, 343-354, https://doi.org/10.1016/j.brainresbull.2005.07.006
Kostyuk, V.N. (2004). Nonstationary economic processes. Moscow: Editorial URSS (in Russian).
Kostyuk, V.N. (2001). Theory of Evolution and Socio-economic Processes. Moscow: Editorial URSS (in Russian).
Krugman, P. (2009). How Did Economists Get It So Wrong? The New York Times Magazine, 02 Sept 2009. Available at: https://nyti.ms/2k1HZzR
Latham, W. et al. (2006). The Economics of Persistent Innovation: an Evolutionary View. New York: Springer Science+Business Media, Inc
Loasby, B.J. (2001). Time, knowledge and evolutionary dynamics: why connections matter. Journal of Evolutionary Economics, vol. 11, issue 4, 393-412. Available at: https://ideas.repec.org/a/spr/joevec/v11y2001i4p393-412.html
Loasby, B.J. (2002). The evolution of knowledge: Beyond the biological model. Research Policy, vol. 31, 1227-1239, https://doi.org/10.1016/S0048-7333(02)00060-4
Ma, С. and Stern, D.I. (2006). Environmental and ecological economics: A citation analysis. Ecological Economics, vol. 58, issue 3, 491-506, https://doi.org/10.1016/j.ecolecon.2005.07.023
Maevsky, V.I. (1999). Evolutionary theory and non-equilibrium processes (on the example of the US economy). Economic science of modern Russia, vol. 4 (1999), 45- 62. Available at: http://ecsocman.hse.ru/data/968/143/1217/04-Mayevsky.pdf (in Russian).
Mai Le, V.P., Meenagh, D. and Minford, P. (2016). Monetarism rides again? US monetary policy in a world of Quantitative Easing. Journal of International Financial Markets, Institutions and Money, vol. 44, 85-102, https://doi.org/10.1016/j.intfin.2016.04.011
Makarov, V.L. (1995). Evolutionary economics: some fragments of the theory. Conference Proceedings: "Evolutionary Approach and Problems of Transition Economy". Moscow: Institute of Economics, Russian Academy of Sciences (in Russian).
Makasheva, N.A. (2003). Evolutionary economics. In: History of economic teachings. Ed. Avtonomova V.V. Moscow: INFRA-M (in Russian).
Malerba, F. (2006). Innovation and the evolution of industries. Journal of Evolutionary Economics, vol. 16, issue 1, 3-23, https://doi.org/10.3917/reof.073.46
McConnell, C.R., Brue, S.L. and Flynn, S.M. (2011). Economics: Principles, Problems and Policies. Moscow: INFRA-M (in Russian).
Ménard, C. (2018). Research frontiers of new institutional economics. RAUSP Management Journal, vol. 53, issue 1, 3-10, https://doi.org/10.1016/j.rauspm.2017.12.002
Nelson, R.R and Winter, S.G. (1982). An evolutionary theory of economic change. Cambridge: Harvard University Press.
Nusratullin, V.K. (2006). Nonequilibrium economy. 2nd edition. Moscow: Sputnik+ Company.
Penrose, E.T. (1952). Biological Analogies in the Theory of the Firm. American Economic Review, vol. 42, 804-819. Available at: https://www.jstor.org/stable/1812528
Prigorine, E. and Stengers, E. (1986). Order out of chaos. Moscow: Progress (in Russian).
Schnellenbach, J. and Schubert, C. (2015). Behavioral political economy: A survey. European Journal of Political Economy, vol. 40, Part B, 395-417, https://doi.org/10.1016/j.ejpoleco.2015.05.002
Sytnik, K.M. (1985). Biology Handbook. Kiev: Naukova Dumka (in Russian).
Veblen, T. (1898). Why is Economics Not an Evolutionary Science. The Quarterly Journal of Economics, vol. 12, issue 4, 373–397.
Winter, S.G. (1971). Satisficing, selection, and the innovating remnant. Quarterly Journal of Economics, vol. 85, issue 2, 237-261, https://doi.org/10.2307/1880703
Winter, S.G. (1987). Natural selection and evolution. In J. Eatwell, M. Milgate, & P. Newman (Eds.), The new palgrave: A dictionary of economics, Vol. 3. (pp. 614-617). London: MacMillan.
Yadgarov, Y.S. (2009). History of economic teachings. Moscow: INFRA-M (in Russian).
Zoidov, К.Kh. (2009). Evolutionary Approach and Its Significance for the Development of Economic Science in Post-Soviet Countries. Economics and Mathematical Methods, vol.45, issue 2, 96-112, Available at: https://econpapers.repec.org/article/scncememm/45-2-9.htm (in Russian).
Published
2020-01-25
How to Cite
Nusratullin, I., Yeremeeva, O., Butorina, G., Novikov, S., & Kovazhenkov, M. (2020). The main provisions of the evolutionary doctrine in economics. Amazonia Investiga, 9(25), 230-241. Retrieved from https://amazoniainvestiga.info/index.php/amazonia/article/view/1062
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