• Table of Contents
    • Abstract
    • Keywords
    • Article
      • Schumpeter and the neo-Schumpeterian synthesis
      • Selection principles and processes
      • Emergence and diffusion of innovations
      • The evolution of industries and the institutions backing innovativeness
      • Darwinian perspectives on economic evolution
    • See Also
    • Bibliography
    • How to cite this article

evolutionary economics

Ulrich Witt
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

This article reviews the way of thinking about economic problems and the research agenda associated with the evolutionary approach to economics. This approach generally focuses on the processes that transform the economy from within and on their consequences for firms and industries, production, trade, employment and growth. The article highlights the major contributions to evolutionary economics and explains its key concepts together with some of their implications.
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How to cite this article

Witt, Ulrich. "evolutionary economics." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 24 October 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_E000295> doi:10.1057/9780230226203.0511

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