iology of organization in the new institutional economics.
"Evolutionary Theorizing about Economic Change" by Nelson, reviews principles of evolutionary theory regarding economic change. The author states this is a necessary process since old evolutionary theory is compatible intellectually with the work of sociologists and reviewing evolutionary theory about economics is to separate economics from sociology. The discussion was limited to theories that presume change occurs through a process similar to biological evolution; the system is subject to random variation or agitation and mechanisms analyze the variation.
Different evolutionary theories are included: some are concerned with human understandings, culture, or organization; others focus on more complex situations such as productivity growth fueled by technical advance; still others are influenced by theories on nonlinear dynamic systems. The author examines neoclassical economic theorizing as a framework for analyzing econ
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