
Contents
-
-
-
-
-
-
-
-
-
-
6.1 Introduction 6.1 Introduction
-
6.2 Evolutionary Economics 6.2 Evolutionary Economics
-
6.2.1 Introduction 6.2.1 Introduction
-
6.2.2 The Darwinian Natural Selection Model 6.2.2 The Darwinian Natural Selection Model
-
6.2.3 Selection in the World after the Emergence of Humans 6.2.3 Selection in the World after the Emergence of Humans
-
6.2.4 Economics of Technological Change 6.2.4 Economics of Technological Change
-
6.2.5 The Return of Original Institutional Economics (OIE) 6.2.5 The Return of Original Institutional Economics (OIE)
-
6.2.6 The Future of Evolutionary Economics 6.2.6 The Future of Evolutionary Economics
-
-
6.3 Austrian Economics 6.3 Austrian Economics
-
6.3.1 Introduction 6.3.1 Introduction
-
6.3.2 Praxeology and Historical Development 6.3.2 Praxeology and Historical Development
-
6.3.3 Subjectivism 6.3.3 Subjectivism
-
6.3.4 The Market as a Competitive Process 6.3.4 The Market as a Competitive Process
-
6.3.5 Institutionalization of Free Markets 6.3.5 Institutionalization of Free Markets
-
6.3.6 Institutions of a Free Society 6.3.6 Institutions of a Free Society
-
6.3.7 The Calculation Debate 6.3.7 The Calculation Debate
-
6.3.8 Schumpeter as a Special Case 6.3.8 Schumpeter as a Special Case
-
6.3.9 Austrian Macroeconomics 6.3.9 Austrian Macroeconomics
-
6.3.10 Conclusion 6.3.10 Conclusion
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6 Evolution and Entrepreneurship, an Evolutionary and an Austrian View
Get access-
Published:April 2015
Cite
Abstract
These two views are based on the idea that reality is an open and organic system rather than a closed and deterministic one. Life, including economic life, is historical rather than logical. This means that future action is significantly affected by what happened in the past and by future expectations. These views do not work with the notion of equilibrium. Dissatisfaction leads to innovation! Evolutionary economics is based on Darwinian as well as on Lamarckian principles. The Austrian view describes market competition as a Darwinian process. Monopolies are not necessarily bad—they trigger newcomers. Austrians consider free markets as superior to central planning: in terms of information diffusion as well as in terms of incentives for people to work and to save and invest. Finally, Schumpeter is discussed—he does not fit in any of the ‘official’ views, but definitely deserves a place in this chapter.
Sign in
Personal account
- Sign in with email/username & password
- Get email alerts
- Save searches
- Purchase content
- Activate your purchase/trial code
- Add your ORCID iD
Purchase
Our books are available by subscription or purchase to libraries and institutions.
Purchasing informationMonth: | Total Views: |
---|---|
October 2022 | 1 |
November 2022 | 4 |
March 2023 | 1 |
August 2023 | 2 |
December 2023 | 5 |
April 2024 | 1 |
May 2024 | 1 |
June 2024 | 2 |
April 2025 | 1 |
Get help with access
Institutional access
Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:
IP based access
Typically, access is provided across an institutional network to a range of IP addresses. This authentication occurs automatically, and it is not possible to sign out of an IP authenticated account.
Sign in through your institution
Choose this option to get remote access when outside your institution. Shibboleth/Open Athens technology is used to provide single sign-on between your institution’s website and Oxford Academic.
If your institution is not listed or you cannot sign in to your institution’s website, please contact your librarian or administrator.
Sign in with a library card
Enter your library card number to sign in. If you cannot sign in, please contact your librarian.
Society Members
Society member access to a journal is achieved in one of the following ways:
Sign in through society site
Many societies offer single sign-on between the society website and Oxford Academic. If you see ‘Sign in through society site’ in the sign in pane within a journal:
If you do not have a society account or have forgotten your username or password, please contact your society.
Sign in using a personal account
Some societies use Oxford Academic personal accounts to provide access to their members. See below.
Personal account
A personal account can be used to get email alerts, save searches, purchase content, and activate subscriptions.
Some societies use Oxford Academic personal accounts to provide access to their members.
Viewing your signed in accounts
Click the account icon in the top right to:
Signed in but can't access content
Oxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian.
Institutional account management
For librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more.