Austrian Economics and the Evolutionary Paradigm*
| Autor: | Naomi Beck, Ulrich Witt |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Between the Natural and Human Sciences
carl menger 05 social sciences joseph schumpeter Neoclassical economics Austrian School innovations Philosophy free market Darwin (ADL) 0502 economics and business evolution AZ20-999 darwin institutions History of scholarship and learning. The humanities Sociology 050207 economics Positive economics Free market friedrich hayek 050203 business & management |
| Zdroj: | Studies in Logic, Grammar and Rhetoric, Vol 57, Iss 1, Pp 205-225 (2019) Studies in Logic, Grammar and Rhetoric |
| ISSN: | 2199-6059 |
| Popis: | This article discusses the challenges raised by the inclusion of evolutionary elements in the theories of Carl Menger, Joseph Schumpeter, and Friedrich Hayek. Each adopted an idiosyncratic position in terms of method of inquiry, focus, and general message. The breadth of the topics and phenomena they cover testifies to the great variety of interpretations and potential uses of evolutionary concepts in economics. Menger, who made no reference to Darwin’s theory, advanced an “organic” view of the emergence of social institutions. Schumpeter elaborated an original theory of industrial development based on the recurrent emergence and dissemination of innovations. Hayek adopted the biological notion of group selection and made it the central element in his theory of cultural evolution and the rise of the free market. The chapter concludes with a preliminary evaluation of the possible role that evolutionary theorizing might play in the future development of Austrian economics. |
| Databáze: | OpenAIRE |
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