NDLI: Competitive selection, self-organisation and Joseph A. Schumpeter

Content Provider	Springer Nature Link
Author	Foster, John
Copyright Year	2000
Abstract	Post-Schumpeterians have tended to use biological analogies to understand economic evolution, in contrast to Schumpeter himself. In this paper it is argued that the biological analogies used tend to be outdated and that Schumpeter espoused an intuitive understanding of the evolutionary economic process that is closely related to modern conceptions of self-organisation, suitably adapted for application in socioeconomic systems. Using a self-organisation approach, competition can be understood without recourse to biological analogy, in terms of general systemic principles that operate in the presence of variety. Viewing economic evolution in terms of complex adaptation in self-organising systems yields nonequilibrium and nonlinear perspectives that parallel Schumpeter's own intuitions, reinvigorating them as the basis of evolutionary economic thinking in the new Millennium.
Starting Page	311
Ending Page	328
Page Count	18
File Format	PDF
ISSN	09369937
Journal	Journal of Evolutionary Economics
Volume Number	10
Issue Number	3
e-ISSN	14321386
Language	English
Publisher	Springer-Verlag
Publisher Date	2000-01-07
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics Business, Management and Accounting

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Competitive selection, self-organisation and Joseph A. Schumpeter