Our purpose here is to describe and illustrate in the simplest possible way a multiple-phase theory of economic growth and development that helps explain why human evolution has not been characterized by steady progress but by fluctuating growth and changing forms, sometimes progressing to...

Economic development is the outcome of an interaction between creative intelligence and adaptive economizing. Inventors and innovators continually perturb the possibilities for production, consumption, and social organization. Adaptive economizing enables individuals to cope with changing...