Evolutionary Economics Revolutionizes Business Strategies, Empowers Firms to Adapt and Thrive.
The article discusses how economic change evolves over time, focusing on the ideas of two American scientists. They explore the history of their book, analyze previous theories, and use a Schumpeterian approach. The researchers study methods like computer modeling and math to understand economic evolution. They highlight the concept of routine in economics, leading to the theory of the firm. The article also looks at how the evolutionary theory relates to macro-economic policies.