Managerial Economics © Ma

Key Research

Evolutionary economics, in the broadest sense, deals with change in economic systems and is therefore less interested in descriptions of states than in transition processes. More specifically, it is about the self-organized change of economic systems when something new occurs. In contrast to the conventional dynamic analysis of economics, the claim to knowledge of evolutionary economics consists in endogenizing the new both in terms of its conditions of origin and in terms of its expansion and effects. It is therefore not only about the more or less complex adaptation of economic systems to exogenous data changes, but about the self-organizing creation of new conditions and their effects on open-ended and open-ended processes within the economic system under study.

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