Further Economy Stability

Doing and interpreting empirical research in order to develop research designs, which can provide a way to discuss the issues mentioned earlier, such as radical versus incremental. Having chosen a firm or industry, the researcher wants to know in which dimensions the firm ‘exit’ or had access to ‘new’ or ‘old’ activities, knowledge, and resources [...]

Technological change does not feature prominently in most analysis of the boundaries of the firm. This argument may seem puzzling in that, in neoclassical economics, the boundaries of the firm are technologically determined by the relevant production function, but the approach taken both by the neo-classicists and later writers generally ignores the effects of subsequent [...]

An analytical hold on this perspective is achievable, not by trying to extend preference theory by ever higher order algebraic relaxations, but rather by rethinking the geometry of the space in which preferences are compiled and operated, and of the dynamics of this process. Network theory has come a remarkably long way in recent years, [...]

The growth of economies depends on the expansion of consumption sets, either through our inherent desire for novelty or through the power of marketing in expanding the range of goods and services we aspire to consume. As economic growth proceeds, more and more of the connections that we forge with others become economic in nature, [...]

Rather than basing economic analysis on production functions for firms and preference functions for consumers, we gain a better understanding of economic structure and its dynamics by viewing both production and consumption as occurring in complex interacting networks. Value has both static and dynamic dimensions. Evolutionary theory is about how they interact. Evolutionary economics should [...]