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, [...]
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 [...]
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