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The Neo-Schumpeterian and Evolutionary Approach to Economics—An Introduction

  • Lars Magnusson
Part of the Recent Economic Thought book series (RETH, volume 36)

Abstract

This volume brings forth attempts to discuss the interrelationships and possible connecting threads between two recent attempts within economic theory to step out of the strait jacket of conventional neoclassical wisdom: evolutionary and neo-Schumpeterian theory. How these approaches should be understood and defined is open to contest, as will become clear for the reader of this volume. Moreover, it is not unusal that these terms are used interchangeably. Thus Richard Nelson and Sidney Winter, in their seminal An Evolutionary Theory of Economic Change (1982), which more than any other single work triggered off a modern discussion around these issues, emphasized “Indeed, the term “neo-Schumpeterian” would be as appropriate a designation for our entire approach as evolutionary” (Nelson and Winter, 1982, p. 39).

Keywords

Business Cycle Market Structure Evolutionary Approach Economic Change Market Process 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kluwer Academic Publishers 1994

Authors and Affiliations

  • Lars Magnusson
    • 1
  1. 1.Department of Economic HistoryUppsalaSweden

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