The topic of this paper is evolutionary-economic models and how they are implemented in a new, effective system for programming and simulating such models. The evolutionary-economics simulation models are exemplified by the Nelson and Winter family of models of Schumpeterian competition in an...

Dedicated to the goal of furthering evolutionary economic analysis, this book provides a coherent scientific approach to deal with the real world of continual change in the economic system. Expansive in its scope, this book ranges from abstract discussions of ontology, analysis and theory to...

Today, economic growth is widely understood to be conditioned by productivity increases which are, in turn, profoundly affected by innovation. This volume explores these key relationships between innovation and growth, bringing together experts from both fields to compile a unique Handbook.

Schumpeter designed Business Cycles as his major work, but it has never received much attention. The problem is partly related to its complex treatment of the theory of waveform economic evolution and the related study of the statistics and history of 150 years of capitalist evolution, but the...

In his 1939 book Business Cycles, Schumpeter declared that the railroad and its consequences for the economic system is the standard example of his analysis of capitalist evolution. This paper demonstrates that Schumpeter went quite far in the analysis of his case of "railroadization" and in...

This paper tries to demonstrate that the well developed analysis of directional selection within evolutionary economics can be complemented by analyses of stabilizing selection and disruptive selection. It also tries to demonstrate that the evolutionary algebra provided by Price’s equation...

Innovation is increasingly recognized as a vitally important social and economic phenomenon worthy of serious research study. Firms are concerned about their innovation ability, particularly relative to their competitors. Politicians care about innovation, too, because of its presumed social and...