The Evolution Of Economic Diversity

Download or read book The Evolution of Economic Diversity written by Antonio Nicita and published by Routledge. This book was released on 2013-12-16 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: The traditional role of evolutionary theory in the social sciences has been to explain the existence of an object in terms of the survival of the fittest. In economics this approach has acted as a justification for hypotheses such as profit maximisation, or the existence of institutions in terms of their overall efficiency. This volume challenges that view and argues that one of the first tasks of economic theory should be to explain the enormous diversity of institutional arrangements that has characterised human societies.