An Evolutionary Theory of Economic Change

An Evolutionary Theory of Economic Change

  • Richard R. Nelson
  • Sidney G. Winter
Publisher:Harvard University PressISBN 13: 9780674256569ISBN 10: 0674256565

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An Evolutionary Theory of Economic Change is written by Richard R. Nelson and published by Harvard University Press. It's available with International Standard Book Number or ISBN identification 0674256565 (ISBN 10) and 9780674256569 (ISBN 13).

Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms.