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Next steps toward an economics for a creative world: a comment

Published online by Cambridge University Press:  27 August 2014

JOHN FOSTER
JOHN FOSTER*
Affiliation:
School of Economics, University of Queensland, Brisbane, Queensland, 4072, Australia
*
*Email: j.foster@uq.edu.au
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Abstract

In this comment I discuss the excellent contribution of Koppl et al. (2014) to our understanding of the role of institutions in the economic system. Much that is offered by them reinforces and extends previous analysis by institutional and evolutionary economists. However, I argue that there are areas of evolutionary economics and complex economic system analysis that need to be integrated into their evolutionary economic perspective to make it more complete. Also, I argue that they are too kind to mainstream economists who purport to deal with institutions and complexity and that they should consider where the boundaries of science should lie in economics.

Type
Article Commentary
Information
Journal of Institutional Economics , Volume 11 , Issue 1 , March 2015 , pp. 39 - 45
Copyright
Copyright © Millennium Economics Ltd 2014 

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