Arbeitspapier
Entrepreneurship, evolution and the human mind
Schumpeterian 'development from within' requires imagination, skill and motivation; so does Cattaneo's 'psychology of wealth'. Neither can be encompassed by models that rely on deductive rationality, but are twin products of Knightian uncertainty, where the absence of demonstrably correct procedures allows individuals to create domain-limited mental structures. The human mind (as studied by Smith, Marshall and Hayek), is a product of biological evolution which supports the evolution of knowledge and of economic systems. These are non-biological processes; both require (fallible) bounds to uncertainty, which are provided by (evolving) formal and informal organisation, including institutions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Papers on Economics and Evolution ; No. 0513
- Klassifikation
-
Wirtschaft
- Thema
-
Unternehmer
Kognition
Evolutionsökonomik
Schumpeterismus
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Loasby, Brian J.
- Ereignis
-
Veröffentlichung
- (wer)
-
Max Planck Institute of Economics
- (wo)
-
Jena
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Loasby, Brian J.
- Max Planck Institute of Economics
Entstanden
- 2005
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