Economic development as an evolutionary process

Author(s):  
Richard R. Nelson
Author(s):  
Witold Kwasnicki

AbstractThis paper presents an evolutionary model of industry development, and uses simulations to investigation the role of diversity and heterogeneity in firms’ behaviour, and hence industrial development. The simulations suggest that economic growth is increased with greater variety, in the sense of the evolutionary process approaching the equilibrium faster and also, in the long run, moving faster from one equilibrium to a new, more advanced, equilibrium. This occurs due to higher variety caused by a more tolerant environment, and due to the higher probability of emergence of radical innovations.


2000 ◽  
Vol 44 (1) ◽  
pp. 17-23 ◽  
Author(s):  
A.J. Kondonassis ◽  
A.G. Malliaris ◽  
T.O. Okediji

The first purpose of this paper is to reveal some insights offered by our experiences in theorizing about development economics and in doing so to shed some light on the current state of economic development. The second purpose of this paper is to review some practices of economic development planning. These practices have initially followed swings in antithetical positions. Yet, it will be argued that eventually development practices have followed a synthetic or evolutionary process. Some of the findings of the paper include that theories and policies have a time and place; that development planning strategies must recognize both the economic and non economic characteristics of less developed countries; that development planning strategies should be country specific.


2012 ◽  
Vol 51 (1) ◽  
pp. 22-51 ◽  
Author(s):  
Constantin Schifirneţ

Resume This article approaches the concept of tendential modernity as a type of evolution towards principles and norms of modernity within societies with an insufficiently functioning capitalist economy. In these societies, there is a gap between faster institutional renewal and slower economic development. Consequently, cultural, political and intellectual modernity outrun economic modernity. Tendential modernity refers to the ideas and actions aimed at modernization which remain partial and not finalized. Modernity is more an aspiration, a societal developmental intention, a goal to be reached, but which is never fully realized. Due to the fact that modernity is merely a tendency that is never finalized, the transitions are never completed. Modernity moves slowly and with difficulty through the intricate network of socio-institutional structures of the patriarchal and traditional society. It is inlay modernity, not structured under a clear, dominant form. My thesis is applied to the study of Romanian society’s modernization through all its stages: the emergence of the national state, the period between the two World Wars, the communist period and the post-communist period. Even though these periods are not all homogeneous in their rate of development, tendential modernity characterizes the evolutionary process of modern Romania.


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