Complexity and Evolution: Toward a New Synthesis for Economics
Complexity and Evolution: Toward a New Synthesis for Economics
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Abstract
Two widely heralded yet contested approaches to economics have emerged in recent years. One follows an older, rather neglected approach which emphasizes evolutionary theory in terms of individuals and institutions. The other emphasizes economies as complex adaptive systems. Important concepts from evolutionary theory include the distinction between proximate and ultimate causation, multilevel selection, cultural change as an evolutionary process, and human psychology as a product of gene–culture coevolution. Relevant concepts from complexity theory include self-organization, fractals, chaos, sensitive dependence, basins of attraction, and path dependence. This book explores these two bodies of theory and their potential impact on economics. Central themes include the challenges that emerge through integration, evolutionary behavioral economics, and the evolution of institutions. Practical applications are provided and avenues for future research highlighted.
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Front Matter
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1
Introduction
David S. Wilson and others
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Challenges of Integrating Complexity and Evolution
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Evolutionary Behavioral Economics
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Evolution of Institutions and Organizations
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9
The Diffusion of Institutions
Enrico Spolaore andRomain Wacziarg
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10
Robust Institutional Design: What Makes Some Institutions More Adaptable and Resilient to Changes in Their Environment Than Others?
Jenna Bednar
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11
Evolvability of Organizations and Institutions
John F. Padgett
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12
Evolution of Institutions and Organizations
Thomas E. Currie and others
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9
The Diffusion of Institutions
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Shaping the Evolution of Complex Societies
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13
Adaptation and Maladaptation in the Past: A Case Study And Some Implications
Sander E. van der Leeuw
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14
Innovation Policy as Creating Markets, Not Only Fixing Them: Implications for Complexity Theory
Mariana Mazzucato
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15
Complexity Economics and Workaday Economic Policy
David Colander
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16
Advancing Agent_Zero
Joshua M. Epstein andJulia Chelen
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17
Not Half Bad: A Modest Criterion for Inclusion
Scott E. Page
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18
Shaping the Evolution of Complex Societies
John Gowdy and others
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13
Adaptation and Maladaptation in the Past: A Case Study And Some Implications
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End Matter
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