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Knowledge, institutions, and evolution in economics
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ISBN: 1280317477 0203459091 0203255712 0415205379 0415298105 1134627246 9780203459096 9780415205375 9780203255711 9780415298100 9781134627240 9781280317477 9786610317479 661031747X 9781134627196 9781134627233 1134627238 Year: 1999 Publisher: London ; New York : Routledge,

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Abstract

Winner of the Schumpeter Prize, 2000 and Winner of the Smith Prize in Austrian Economics, 2000, this book explores how the limitations of human knowledge create both opportunities and problems in the modern economy. The growing field of evolutionary economics has developed as a result of the traditional failure of the discipline to explain certain phenomena that impact greatly on the economy. These are:*Evolution - the impact on the economy of natural change over time*Institutions - the impact on the economy of government and/or company policy, rules and regulations

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