1st Edition

Policy Implications of Evolutionary and Institutional Economics

    210 Pages 27 B/W Illustrations
    by Routledge

    240 Pages 27 B/W Illustrations
    by Routledge

    This collection is inspired by the coming retirement of Professor Wolfram Elsner. It presents cutting-edge economic research relevant to economic policies and policy-making, placing a strong focus on innovative perspectives.

    In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice. At this point, it seems necessary to develop new methods, to reconsider theoretical foundations and especially to take into account the theoretical alternatives that have been advocated within the field of economics for many years. This collection seeks to accomplish this by including institutionalist, evolutionary, complexity, and other innovative perspectives. It thereby creates a unique selection of methodological and empirical approaches ranging from game theory to economic dynamics to empirical and historical-theoretical analyses.

    The interested reader will find careful reconsiderations of the historical development of institutional and evolutionary theories, enlightening theoretical contributions, interdisciplinary ideas, as well as insightful applications. The collection serves to highlight the common ground and the synergies between the various approaches and thereby to contribute to an emerging coherent framework of alternative theories in economics. This book is of interest to those who study political economy, economic theory and philosophy, as well as economic policy.

    Preface and Acknowledgements

    1. Introduction to the Festschrift for Wolfram Elsner

    2. Economic Complexity and Trade-offs in Policy Decisions

    3. The Psychology of Neoclassical Economists

    4. Evolutionary Political Economy and the Complexity of Economic Policy: Power, Knowledge and Learning

    5. Using the Social Fabric Matrix to Strengthen the Analysis and Modeling of Complex Systems for Original Institutional Economics

    6. Themes in an institutionalist theory of economic policy

    7. On the evolutionary foundations of the dynamic capability view: An exercise using the methodology of isolation

    8. The Enduring Tension: The Political Economy of Industrial Policy

    9. Co-Evolutionary Processes in a Model of Long Run Economic Development

    10. Alternative Policies after the Financial Crisis: New Thinking from Complex Evolutionary Economics

    11. On crises and changes of growth regimes after the 2008 financial crisis: a regulationist perspective

    12. Innovation and National Systems of Innovation Policies: A Network Approach

    13. Towards an Interactive System for innovation Policies



    Claudius Gräbner is a research associate and PhD candidate at the Institute of Institutional and Innovation Economics at the University of Bremen, Germany

    Torsten Heinrich holds a post-doc position and teaches at the University of Bremen, Germany

    Henning Schwardt received his Ph.D. from the University of Bremen in 2012. His has authored and co-authored books on economic development and microeconomics, as well as peer-reviewed articles in many well-known economic journals.