ABSTRACT OF PAPER
Title: Evolutionary Economics and the Idea of Justice: An Institutionalist Perspective
Author: de Sousa Filomena
Although evolutionary arguments have been often used, particularly by authors associated with the Austrian tradition, to justify the effectiveness of spontaneous market processes, the implications of evolutionary thought for issues of social justice and social improvement were detailedly explored within the context of institutionalist economics. Although evolutionary arguments have been often used, particularly by authors associated with the Austrian tradition, to justify the effectiveness of spontaneous market processes, the implications of evolutionary thought for issues of social justice and social improvement were detailedly explored within the context of institutionalist economics. This paper surveys ‘old’ institutionalism’s contribution to the development of an evolutionary economics and the articulation of a theoretical frame of reference for policy formation and the management of the rules that shape the socio-economic process. It examines all particularly the works of John Commons and Clarence Ayres.
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