Transformation as Borderline-Case of Long-Run Development : Aspects of a Classical-Evolutionary Theory of Institutional Transformation

The paper deals with transformation of institutions and the new paradigm in economics, evolutionary economic theory. First mainstream approaches to explain transformation (here called "transition") are criticised, then the conception of evolutionary economics is defined. Transformation - like revolution - is described as part of the long-run institutional change. By using theory of institutional competition and the conception of the entrepreneur in the Schumpeter sense a new conception of understanding transformation is introduced