ic activity one way as opposed to another- This is the point of transaction cost economics; it explains why organization theorists are interested and the sociology 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 theorik---- are included. c-3ome are concerned with hllman understandings. culture, or oroanization; others focus on more complex -3itLiations such a
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