UNSUCCESSFULLY EVOLVED COMPETITIVE PROCESS: A COMMENT ON "EVOLUTIONARY ECONOMICS AND CREATIVE DESTRUCTION"

Abstract

Evolutionary economics has been a gradually forming trend in economics since the 1970s and 1980s. Although it gives an opinion on the equilibrium paradigm of neo-classical economics and the excessive mathematical formalism, it is confined to oppose the whole system of mainstream economics from a certain aspect, or to oppose the aspects that the mainstream economists extract. Thereby, in terms of scientific accuracy, evolutionary economics does not step further than mainstream economics. Metcalfe's failure to evolve the competitive process in his book Evolutionary Economics and Creative Destruction provides a real example.