Thorstein Veblen asked in 1898 why economics is not an evolutionary science; he also proposed a Darwinian paradigm shift for economics. Among the implications reviewed here was his claim that Darwinian principles applied to social entities as well as to biological phenomena. It is also argued that...

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...

Several social scientists, including `evolutionary economists', have expressed scepticism of `biological analogies' and rejected the application of `Darwinism' to socio-economic evolution. Among this group, some have argued that self-organisation is an alternative to biological analogies or...

Although the branch of economics that deals with economic evolution has become established during the last couple of decades, its aims and potentials can most easily be understood on the background of the work of early pioneers. Joseph A. Schumpeter’s contribution not only analysed capitalist...

In a recent paper, Matthias Kelm (1997) accepts that `Schumpeter's definition of evolution does not contain any Darwinian mechanism such as natural selection or any other biological concept' and that Schumpeter `made no such attempt' to apply `Darwinian theory to economic evolution'. However,...