Knowledge, Institutions and Evolution in Economics

Winner of the Schumpeter Prize 2000 and Winner of the Smith Prize in AustrianEconomics 2000 this book explores how the limitations of human knowledgecreate both... » 

Winner of the Schumpeter Prize 2000 and Winner of the Smith Prize in AustrianEconomics 2000 this book explores how the limitations of human knowledgecreate both opportunities and problems in the modern economy. The growing fieldof evolutionary economics has developed as a result of the traditional failureof the discipline to explain certain phenomena that impact greatly on theeconomy. These areEvolution the impact on the economy of natural change over timeInstitutions the impact on the economy of government andor company policyrules and regulationsKnowledge the impact on the economy that is felt when new informationbecomes availableKnowledge Institutions and Evolution in Economics is a punchy overview ofthese topics and one that has become regarded as something of a modern classicthat no serious social sciences academic or student should be without. «