Further Economy Stability

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 [...]