The Contribution of Richard Nelson and Sidney Winter to an Evolutionary Economic Theory

Authors

  • Rodrigo Morem da Costa Secretaria de Planejamento, Governança e Gestão – RS
  • Achyles Barcelos da Costa UFRGS

DOI:

https://doi.org/10.14393/REE-v37nesp.ago.a2022-66690

Keywords:

Evolutionary Theory; Firm Theory; Routines; Economic Growth Theory.

Abstract

This text is in the spirit of celebrating the fortieth anniversary of An Evolutionary Theory of Economic Change by R. Nelson and S. Winter. Its purpose is to discuss the main contributions of this seminal work to an evolutionary vision of economics, in which innovation plays a fundamental role. Its theoretical concepts are presented, which allowed us to understand the change in capitalist economies in an evolutionary and dynamic way. The evolutionary approach is developed by using analogies with the principles of Darwinian evolution applied to economics. Then, both the new approach to the theory of the firm as well as the Schumpeterian competition are exposed, which are the bases to the understanding of economic development.

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Published

2022-08-18

How to Cite

MOREM DA COSTA, R.; BARCELOS DA COSTA, A. The Contribution of Richard Nelson and Sidney Winter to an Evolutionary Economic Theory. Revista Economia Ensaios, Uberlândia, Minas Gerais, Brasil, v. 37, n. esp.ago., 2022. DOI: 10.14393/REE-v37nesp.ago.a2022-66690. Disponível em: https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/66690. Acesso em: 26 nov. 2024.

Issue

Vol. 37 No. esp.ago. (2022): 40 Anos da publicação de “An Evolutionary Theory of Economic Change” de Richard Nelson & Sidney Winter

Section

Artigos

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