Description - The Evolution of Economic Diversity by Antonio Nicita
The traditional role of evolutionary theory in the social sciences has been to explain the existence of the object of their study in terms of the survival of the fittest. In economics this approach has acted as a surrogate justification for hypotheses such as profit maximisation or to justify the existence of institutions in terms of their overall efficiency. This volume challenges that view and argues that one of the first tasks of economic theory should be to explain the enormous diversity of institutional arrangements that has characterised human societies. The issues covered include: * evolution in the natural sciences and its lessons for economics * learning and evolutionary theory * the evolution of institutional arrangements * equilibrium selection and the evolution of norms The Evolution of Economic Diversity unravels the remarkable two-way traffic between economics and biology that has characterised the history of the two disciplines and develops a notion of economic evolution that is able to explain the diversity of economic institutions that is to be found in human societies.
It will be welcomed by students and researchers of economics, economic methodology and the philosophy of social science. The Siena Summer School hosts lectures by distinguished scholars on topics characterised by a lively research activity. The contributions collected in this series offer a clear account of the alternative research paths that exist within a particular field. The Routledge Siena Summer School Series presents the findings of the School, emphasising the common methodology employed in organizing the different workshops.
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