... CCC 00 I8-2702/86/$ I .50 Money: Menger’s evolutionary theory Gerald P. O’Driscoll, Jr. Introduction Carl Menger is best known as the codiscoverer of marginalism and the founder of the Austrian School. In the last fifteen years, there has been...

...” or “basic” science and applied science, noting how distinctions appear to underwrite particular economies of credit within the scientific community and beyond it. Second, by exploring the relevance of this historiography to the case of evolutionary biology’s theory of games, it demonstrates how one...

... “scientific” and “religious” knowledge protected each from the other for a while. But Charles Darwin's evolutionary theory seemed to destroy that distinction, and so to discredit religion and theology. A variety of strategies for relating economics to theology has been adopted since that time by those...

..., Mill, Marshall, and Fisher. Wallace's economics, which attempted to analyze practical socialism, protection of the environment, and monetary stability, was interesting and insightful. It was only loosely related to his evolutionary theory. Correspondence may be addressed to David Collard...

...Clément Levallois Today, Alchian's “Uncertainty, Evolution, and Economic Theory” (1950) is hailed by evolutionary economists as a most important piece that resumed an evolutionary brand of theorizing in economics after the eclipse of the interwar period. On the other hand, Alchian's article...

...Jack J. Vromen By Geoffrey M. Hodgson. Cheltenham, U.K.: Edward Elgar, 1999. 345 pp.$95.00. 2001 Nelson, Richard R., and Sidney G. Winter. 1982 . An Evolutionary Theory of Economic Change . Cambridge,Mass.: Belknap Press of Harvard University Press. 190 Book Reviews...

... . Evolution and Institutions: On Evolutionary Economics and the Evolution of Economics . Cheltenham, UK : Edward Elgar . Hodgson Geoffrey . 2003 . “ The Mystery of the Routine. The Darwinian Destiny of An Evolutionary Theory of Economic Change .” Revue économique 54 ( 2 ): 355 – 84...

... classical political economy’s,especially Thomas Mal- thus’s,influence on the theory of natural selection. One side of the debate—what evolutionary biologist Richard Lewontin terms “received doctrine” among histo- rians—reduces Darwin’s thought to a simple projection onto nature of classical po- litical...

... be required reading for anyone interested in evolutionary economics. The first part of the book deals with evolutionary arguments and the theory of the firm. Vromen nicely unpacks the arguments provided by Machlup, Alchian, Friedman, and Becker...

.... Lazonick , W. 1991 . Business Organization and the Myth of the Market Economy . Cambridge: Cambridge University Press. Lazonick , W. 1994 . The Integration of Theory and History: Methodology and Ideology in Schumpeter's Economics. In Evolutionary and Neo-Schumpeterian Approaches to Economics...

... interpretation of Schumpeter: that he established an evolutionary theory of entrepreneurship and com- petition on the basis of the key concept of creative destruction. According to the editors, this “evolutionary interpretation,” although supported by the rise of modern evolutionary economics in recent...

... Chaussees 14 : 1 –125. Mitchell , Wesley C. , ed. 1964 . What Veblen taught: selected writings of Thorstein Veblen (1936). New York. Nelson , Richard R. , and Sidney G. Winter. 1982 . An evolutionary theory of economic change . Cambridge, Mass. North , Douglass. C. 1978...

... , Philip . 1989 . More Heat than Light . New York: Cambridge University Press. Morgan , C. Lloyd . 1906 . Introduction to Comparative Psychology . Revised 2d ed. London: Walter Scott Publishing. Nelson , Richard , and Sidney Winter. 1982 . An Evolutionary Theory of Economic Change...

... History of the Dismal Science. http://www.econlib.org . Samuelson, Paul A. 1978 . The Canonical Classical Model of Political Economy. Journal of Economic Literature 16 : 1415 -34. Book Reviews 353 Evolutionary game theory’s analogy...

... forces in Veblen’s work are so numerous (including technology, propensities, instincts, etc.) that his evolutionary ‘theory’ could be made compatible with a very wide variety of outcomes. I find it hard to accept that Veblen ‘antic- ipated’ Galbraith’s views on business enterprise in any...

... and Evolution: Alfred Marshall and the Marshallians. London: Palgrave Macmillan. 2013. Alfred Marshall and Modern Economics: Equilibrium Theory and Evolutionary Economics. London: Palgrave Macmillan. Hirsch, F. 1976. The Social Limits of Growth. Cambridge, Mass.: Harvard University Press...

.... 1892. On the Origin of Money. Economic Journal 2, no. 6: 239 55. Menger, Carl. (1909) 2013. El dinero. Madrid: Unión Editorial. O Driscoll, Gerald P. 1986. Money: Menger s Evolutionary Theory. History of Political Economy 18, no. 4: 601 16. Rallo / Knapp Was Not a Chartalist 793 Rist, Charles...

... AND PREDICTABILITY 109 As Scrivener has demonstrated, however, this does not mean that ex- planations in evolutionary theory are impossible.34 The uncertainty which physics found in the behavior of individual particles has there- fore been broadened by biology to include...

... on the spontaneous emergence of money. Lavoie (1983) indirectly suggests that the answer may be that both have nonequilibrium evolutionary theories of markets and other social institutions. Rosner (1988) points to the similar theories of capital that underlie the cycle theories of both Hilferding and Hayek...

... period”; (2) Clark was throughout anxious “to develop a theory conso- nant with the property relations of a capitalist society”; and (3) he struggled to develop “a generally evolutionary theory of human progress based on a divinely- ordered universe as a specifically anti-socialist theoretical...