What is evolutionary economics?

Evolutionary economics is a field of study that combines economic theory with evolutionary biology to understand how economic systems and institutions evolve over time. It seeks to explain the development of economic systems through an evolutionary lens, emphasizing the importance of variation, selection, and adaptation. Evolutionary economists argue that economic behaviors and institutions are not static, but rather constantly changing and adapting in response to environmental factors and pressures. This field of study also explores how technologies, institutions, and policies can shape economic evolution and generate new economic opportunities and challenges.

This mind map was published on 19 May 2023 and has been viewed 148 times.