Exponential Expansion in Evolutionary Economics: A Model Proposition

Peter Frederiksen, Tue Jagtfelt

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

This article attempts to solve current problems of conceptual fragmentation within the field of evolutionary economics. One of the problems, as noted by a number of observers, is that the field suffers from an assemblage of fragmented and scattered concepts (Boschma and Martin 2010). A solution to this problem is proposed in the form of a model of exponential expansion. The model outlines the overall structure and function of the economy as exponential expansion. The pictographic model describes four axiomatic concepts and their exponential nature. The interactive, directional, emerging and expanding concepts are described in detail. Taken together it provides the rudimentary aspects of an economic system within an analytical perspective. It is argued that the main dynamic processes of the evolutionary perspective can be reduced to these four concepts. The model and concepts are evaluated in the light of Thomas Kuhn’s notion of scientific paradigms and criteria for a good theory (1977, 1996). The paper thus aims to augment and assimilate the fragmented and scattered body of concepts presently residing within the field of evolutionary economics, by presenting an intuitive framework, applicable within the theoretical and analytical corpus of contemporary literature.

Translated title of the contributionEksponential Ekspansion i Evolutionær Økonomi: En Model
Original languageEnglish
JournalJournal of Economic Issues
Volume47
Issue number3
Pages (from-to)705-718
Number of pages13
ISSN0021-3624
DOIs
Publication statusPublished - Sep 2013

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