Innovation Complexity And Economic Evolution From Theory To Policy Pier Paolo Saviotti by Pier Paolo Saviotti 9781032278148, 9781032278186, 1032278145, 1032278188 instant download after payment.

If evolutionary economics is to compete with neoclassical economics as a
general-purpose economic theory, it needs to incorporate new aspects of
socioeconomic reality, such as institutions of all types, including
technical, scientific, and political. Furthermore, evolutionary
economics needs to be able to provide policy implications at least as
interesting as those of neoclassical economics. Thus, as this book
argues, evolutionary economics must become evolutionary political
economy.
Innovation plays a central role in the book, but not in the sense of
providing a technologically determinist interpretation. Rather, the book
argues that innovations do not emerge in isolation from other
components of socioeconomic systems but coevolve with institutions,
infrastructures and organizational forms. This concept of coevolution is
absolutely central in the book and provides a link with theories of
complexity. In addition to providing an epistemological basis for
evolutionary economics, the link with complexity and coevolution offers
the connection with evolutionary political economy. Innovations and
technologies do not emerge and develop in an institutional vacuum, but
interact with existing institutions and reshape them, in addition to
inducing the formation of new institutions. In this process,
technologies and institutions reinforce each other providing a potential
mechanism to transform socioeconomic systems. The book also explores
the policy implications of these innovative societies, where wealth is
created but unequally distributed.
The book is addressed to open-minded economists, social scientists who
are dissatisfied with the approach of neoclassical economics,
technologists and policy makers.