Richard R.Nelson – An Evolutionary Theory of Economic Change
About Course
Richard R.Nelson – An Evolutionary Theory of Economic Change
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Richard R. Nelson and Sidney G. 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. Also
Get Richard R.Nelson – An Evolutionary Theory of Economic Change on Traderknow.com
To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. Also
The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry. Also
Review
“The book ranges from subtle theoretical analyzes of the nature of choice to highly explicit mathematical modeling, from the theory of the firm to the theory of bureaucratic agencies. Also 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
“[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 it’s most important problems. ” – Journal of Comparative Economics Also
“An important and interesting book.” – Journal of Political Economy
Get Richard R.Nelson – An Evolutionary Theory of Economic Change on Traderknow.com
“The 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
About the Author
Richard R. Nelson is George Blumenthal Professor of International and Public Affairs, Business, and Law, Emeritus, at Columbia University. Also
Get Richard R.Nelson – An Evolutionary Theory of Economic Change on Traderknow.com
Visit more course: FINANCIAL DEVELOPMENT
The same course: M.Rusydi Marc Yor Rene M.Stulz Robert Cinnamon Srdjan Stojanovic Stephen G.Ryan Steve Dalton . Sumru Altug Suresh Sundaresan Thomas Fitch Tom Taulli Lidiya K Tom Taulli Peter Dunkart. Jo Dunning Brendon Burchard Bob Bly Alex Becker Alan Weiss Talmadge Harper .
Please contact email: [email protected]
Course Features
- Lectures 0
- Quizzes 0
- Duration 45 hours
- Skill level All levels
- Language English
- Students 98
- Assessments Yes
