Jochen Röpke. Evolution and Innovation

Jochen Röpke. Evolution and Innovation

Our knowledge about evolutionary change is limited. Evolutionary economics is still in its infancy; indeed we are on thin theoretical ice in linking evolution and innovation. If we are to reach a new level of understanding we must engage in quasiscientific speculation in order to generate new theories, better able to explain the facts of economic life. Such new theories have been developed in recent years, and even if they do not yet possess a paradigmatic standing in the scientific community, they offer the chance to replace or substitute the mechanistic view of the world, the clockwork-modelling and equilibrium theorising, so prevalent even in those branches of economics that are specialising on the change and development of systems.

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Keywords: Evolutionary Economics, Economy of Innovations

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