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This sample economics research paper features: words approx. Browse other research paper examples for more inspiration. If you need a thorough research paper written according to all the academic standards, you can always turn to our experienced writers for help. This is how your paper can get an A! Feel free to contact our writing service for professional assistance. We offer high-quality assignments for reasonable rates. Evolutionary economics has gained increasing acceptance as a field of economics that focuses on change over time in the process of material provisioning production, distribution, and consumption and the social institutions that surround that process. It is closely related to, and often draws on research in, other disciplines such as economic sociology, economic anthropology, and international political economy.
It has important implications for many other fields in economics, including, but not limited to, growth theory, economic development, economic history, political economy, history of thought, gender economics, industrial organization, the study of business cycles, and financial crises. Historically, evolutionary economics was the province of critics of the mainstream, neoclassical tradition. Both Marxist and original institutional economists OIE have long asserted the importance and relevance of understanding change over time and critiqued the standard competitive model for its abstract, ahistorical, and static focus.
In recent years, however, the rise of the new institutional economics NIE as well as game theory has resulted in wider acceptance of evolutionary explanations by the mainstream Hodgson, b, pp. Consequently, it is now possible to identify three major traditions in evolutionary economics: the Marxist Sherman, , the OIE Hodgson, , and the NIE North, Each of these major traditions encompasses multiple strands within it. As a general rule, Marxists and OIEs seek to replace the standard competitive model of mainstream economics, while NIEs seek to complement the standard competitive model, although the growing acceptance of game theory may make this less of an important distinction. Despite their differences, it is possible to identify some common themes that are shared by each of these disparate traditions.
For example, authors in each tradition have exhibited a concern with how the interaction of technology, social institutions, and ideologies leads to changes in economic and social organization over time. The goal of this research paper is to introduce the reader to a few of the major concerns, themes, and important authors of each respective tradition. In doing so, it will first address some general issues in evolutionary economics, including its relationship to evolutionary biology as well as some conceptual, definitional, and taxonomic issues. It will then proceed to provide a brief overview of the evolution of each respective tradition. Unfortunately, the length of this research paper precludes discussion of many worthy contributions to each tradition as well as important topics that can and should be addressed by evolutionary economics.
For example, space does not permit a discussion of how evolutionary economics could be applied to gender economics or how economists who write on gender often incorporate the contributions of evolutionary economists. Nor will this research paper attempt to assess the extent of empirical or conceptual progress in evolutionary economics within or between respective traditions. In addition, the reader should be aware that evolutionary economics itself is an evolving field and that the boundaries between the three traditions are often fluid.
Taken at face value, the word evolution simply means change. At the risk of oversimplifying slightly, it should be noted that the neo-Darwinian synthesis formulated by Thedosius Dobzhansky and Ernst Mayr in the s has given rise to two sometimes opposing strands within the overarching frame of the synthesis Mayr, , pp. One strand, exemplified by Richard Dawkins, who has written many widely read books on evolution, focuses on the role of genes in building organisms and on the tendency of natural selection to result in highly adapted organisms. This approach is sometimes referred to as the strong adaptationist program in evolutionary biology. It is closely related to fields such as sociobiology and evolutionary psychology, which explain many human behaviors in terms of their evolutionary origins.
Other evolutionary biologists have de-emphasized the role of natural selection and emphasize the importance of understanding biological evolution in terms of emergence, chance, path dependence, satisficing, and punctuated equilibrium. Richard Lewontin and the late Stephen J. Gould are two widely read authors who have advocated this position. Both Gould and Lewontin have been strongly critical of biologically based explanations for human behavior. Although these two differing approaches to evolution are sometime viewed as rivals, they are in actuality complementary to each other.
It is important to understand both aspects of biological evolution. In addition, biological evolution is a very complex process, and evolutionary biologists continue to push their field forward. Contemporary research in evolutionary biology focuses on the important interactions between genes, organisms, and their interaction with the environment in the process of development. Evolutionary biologists have also become more aware of the importance of lateral gene transfer and endo-symbiosis in bacteria evolution. However, there is still widespread consensus among evolutionary biologists that the synthetic theory of evolution is a true theory.
Evolutionary biologists reject theories that incorporate teleological explanations or inheritance of acquired characteristics because these theories have been discredited empirically. Evolutionary biologists reject theories that are premised on or seek to find evidence of supernatural design as this adds nothing to the explanation and draws the focus of science away from understanding and explaining natural law. Evolutionary economists often draw on and incorporate concepts developed by evolutionary biologists to explain how economic evolution occurs.
For example, many evolutionary economists view economic evolution as a nondirected step-by-step process that is non-teleological it lacks a specific goal or predetermined endpoint. Many, although not necessarily all, evolutionary economists agree that humans have at least some genetically based cognitive and social predispositions that are a result of genetic evolution. Some examples include the ability to learn a language, to learn social norms, to cooperate in groups, and to develop complex tool kits with which to transform nature into useable goods and services.
In addition, the use of the Darwinian concepts of inheritance, variation, and selection as analogs to explain outcomes is pervasive in evolutionary economics. Evolutionary economists also distinguish between specific or microevolution change that occurs within a sociocultural system and general or macroevolution change from one sociocultural system to another. Some evolutionary economists view the market as natural and as an extended phenotype. Others have argued that while Darwinian concepts often provide useful analogies for understanding sociocultural evolution, aspects of sociocultural evolution are distinctly non-Darwinian Poirot, For example, in at least some instances, social and economic evolution results from the conscious decisions of groups of purposive agents who intentionally design or redesign human institutions.
Also, in the process of socio-cultural evolution, we can pass on cultural traits that we acquire through the process of learning. Biological evolution results in a branching pattern and barriers between different species. But human cultures can always learn from each other. The more emphasis that is placed on purposive design of social institutions and cultural learning as well as the abruptness instead of the step-by-step nature of social change, the less Darwinian a model of sociocultural evolution becomes. However, it would be difficult to identify anyone today who argued for a strong teleological concept of sociocultural evolution or who sought to explain sociocultural evolution in terms of divine or supernatural intervention.
Two other important concepts borrowed from the natural sciences, emergence and complexity, also play a key role in evolutionary economics. Emergence means that an observed system results from the complex interaction of the components of the subsystems. This process of interaction gives rise to patterns that would not be predicted from and cannot be reduced to the behaviors of the individual components. However, understanding the system still requires an understanding of its components and the interaction of the components.
So it is important to understand what individuals do. And it is also important to understand how individual choices and habits interact with social institutions in a dynamic way. It is often easier to think in mechanical terms. But if we are careless with mechanical analogies, then we can be easily misled. This raises the question of what it is that evolves in sociocultural evolution. In evolutionary biology, selection takes place at multiple levels but logically requires changes in the gene pool of a population over time Mayr, , pp. Others argue that there is not a precise analog. To understand this debate, we first have to understand what an institution is. A more extensive definition of institution defines an institution as any instituted process, or in other words a shared, learned, ordered, patterned, and ongoing way of thinking, feeling, and acting.
Institutions may be tacit and informal or highly organized and structured. By this latter definition, modern firms, medieval manors, technology, nation-states, political ideologies, and even technology are all institutions. In other words, virtually everything that humans do is an instituted process. Institutions are component parts of a sociocultural system. So it is useful to draw a distinction between entities such as social ideologies e. So in that sense, everything in sociocultural systems is constantly evolving. There is no precise analog in sociocultural evolution to the gene pool of a population.
As suggested above, social institutions are part of more general wholes, which it is convenient to term sociocultural systems. A sociocultural system includes the direct patterns of interaction of a society with the ecosystem its subsistence strategy, technology, and demographic patterns , its social institutions, and its patterns of abstract meaning and value. Many anthropologists classify sociocultural systems by their scale, complexity, and the amount of energy captured by their subsistence strategy. Standard classification includes bands, tribes, chiefdoms, agrarian states, and industrial states, each of which corresponds roughly to subsistence strategies of foraging, horticulture, pastoralism and fishing, settled agriculture, and modern industrial technology.
This classification system provides a useful scheme with which to understand the rise of large agrarian empires in the neolithic era and, ultimately, the Industrial Revolution in northwestern Europe. It also provides a useful classificatory schema with which to understand the interaction of multiple kinds of contemporary societies in a globalizing world. However, care must be taken to emphasize the multilinear and dynamic nature of socio-cultural evolution rather than rigidly applying these concepts as a universal and unilinear schema e. While the study of evolutionary economics does not preclude the use of formal mathematical models or quantification, most of its practitioners employ qualitative and interpretive methods.
Also, as suggested above, some evolutionary biologists focus on changes that occur at the level of species, while others focus on more dramatic kinds of change. Similarly, evolutionary economists are interested in the study of sociocultural evolution on a grand scale, such as the rise of agrarian empires or modern capitalism, as well more specific, micro-level evolution such as changes in the organizational routines of individual firms. Consequently, the kinds of issues that evolutionary economists are interested in overlap with the focus of other social sciences and even, in some instances, with the fields of ecology and evolutionary biology. Evolutionary economics reflects a tendency to counter the fragmentation of political economy into disparate social sciences that occurred in the late nineteenth and early twentieth centuries.
Evolutionary economists, like their counterparts in economic sociology, economic anthropology, and political economy, focus more directly on those institutions with the strongest, most immediate, direct relevance to the process of material provisioning. So there may still be a need for some division of labor in the social sciences. What is of direct relevance will vary according to what is being analyzed in any particular study. An economic historian studying the rise of capitalism may, following Weber, find an understanding of Calvinist theology to be essential. Someone studying financial innovation in twenty-first-century industrialized societies would most likely find the religious affiliation of modern banking executives to be of little interest or relevance.
Evolutionary economics is composed of three rival but sometimes overlapping major traditions: the Marxist, the OIE, and the NIE. While there is some degree of ideological overlap between the schools, each of the respective schools tends to share a common overarching ideology. Marxists seek to replace capitalism, OIEs seek to reform capitalism, and NIEs generally view capitalism as beneficent. This is not, notably, to argue that the ideology necessarily determines the empirical and theoretical analysis. Also, as previously noted, Marxists and OIEs seek to replace the standard competitive model while NIEs seek to complement the standard model.
However, the reader should be aware that the boundary between the three traditions is often fuzzy, and there is sometimes overlap between the three traditions. Similarly, each of these three schools is composed of multiple strands and has undergone significant change over time.
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Currency: USD EUR CAD GBP AUD. But because modern civilization is based on the rise and extensive application of machine technology, further progress would require the triumph of the instinct of workmanship over the instinct of predation. Essay Coursework Term Paper Research Paper Book Report Movie Review Case Study Annotated Bibliography Article Assignment. Related Essay Services by Subject Buy Philosophy Papers Buy English Papers Buy Nursing Papers Essay Editing View All Subject Pages. Each of these major traditions encompasses multiple strands within it.
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