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special issue: Bringing institutions into evolutionary growth theory

Author

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  • Richard R. Nelson

    (School of International and Public Affairs, Columbia University, 420 W. 118th St., New York, NY 10027, USA)

Abstract

Classical economics was both evolutionary and institutional. With the rise of neoclassical economics, both the evolutionary and the institutional aspects were squeezed out of main line economic theory. The last quarter century has seen a rebirth of both traditions, but as minority intellectual positions, and to a considerable extent separate ones. This essay argues the need for a rejoining of evolutionary and institutional economics, and suggests a way to bring the two strands together in a coherent way.

Suggested Citation

  • Richard R. Nelson, 2002. "special issue: Bringing institutions into evolutionary growth theory," Journal of Evolutionary Economics, Springer, vol. 12(1), pages 17-28.
    • Handle: RePEc:spr:joevec:v:12:y:2002:i:1:p:17-28
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