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Evolutionary model of folk economics: That which is seen, and that which is not seen?

Published online by Cambridge University Press:  30 August 2018

Dan Stastny
Department of Business Administration, University of New York in Prague, CZ-120 00 Prague 2, Czech Republic. stastnyd2@gmail.com Faculty of Social and Economic Studies, J. E. Purkyne University in Usti nad Labem, CZ-40096 Usti nad Labem, Czech Republic.
Petr Houdek
Faculty of Social and Economic Studies, J. E. Purkyne University in Usti nad Labem, CZ-40096 Usti nad Labem, Czech Republic. Faculty of Science, Charles University in Prague, CZ-12808 Prague 2, Czech Republic. Faculty of Business Administration, University of Economics, Prague, CZ-130 67 Prague 3, Czech Republic. petr.houdek@gmail.com


Although Boyer & Petersen (B&P) make the case for evolutionary roots of folk economics stronger, their evolutionary model ultimately does not deliver folk-economic explanations that are both novel and correct. We argue that (a) most current explanations are evolutionary already; (b) B&P's model is as ad hoc as other theories, and proves too much; and (c) it overrates evolution at the cost of discounting other crucial factors.

Open Peer Commentary
Copyright © Cambridge University Press 2018 

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