Evolution and economics

[David]

Just a different aspect of Darwinian and evolutionary theory:

Some of the most interesting work in economics and social science recently
has used Darwinian principles as a way of understanding economic growth.
Institutional Economics draws on ideas of replication and path dependency in
order to make sense of corporate growth, the behaviour of markets etc. Now
the crucial misrepresented phrase is "survival of the fittest". Evolutionary
theory in its current form in an institutional economics form engages this
as a flawed proposition. human beings and institutions do not evolve purely
on socio-biological terms, there is culture. Evolution does not prescribe A
"better or more efficient progression" simply change. Some of these in the
socio-economic sphere may be more efficient but not necessarily so. Cultural
and institutional constrictures mitigate.
 Geoffrey Hodgson the institutional economist has a detailed summary of
current Darwinian principles in his economic treastise, "The Evolution Of
Institutional Economics- Agency, structure and Darwinism in American
Institutionalism".

Now this is of course a long way from the debates going on here recently.
But be assured Darwinian theory is ever alive and well in understanding our
actual lives and socio-ccultural and economic realities as opposed to the
mythical fantasies of where we came from. Depends on your focus I guess. But
rest assured God (I mean take your choice) appears to be of little relevance
in understanding how economic systems replicate and change.

David.