In this collection of essays, Ulrich Witt illustrates how the evolutionary approach can reveal not only where change comes from, and how it happens, but also where it will lead.

Change manifests itself in all facets of the economy. This important collection of previously published essays illustrates how the evolutionary approach can reveal not only where change comes from, and how it happens, but also where it will lead. The Evolving Economy covers a broad spectrum of issues ranging from the biological foundations of economic behavior to the co-evolution of firms, markets, and institutions. Ulrich Witt's individualistic approach synthesizes elements familiar from the writings of Veblen and Schumpeter on economic evolution. A conceptual debate on what the notion of...