Economics has evolved over a long period of time. It has seen the emergence of various schools of thought enriched with the ideas of great philosophers. In recent times, a new branch of economic theory called Evolutionary Economics has emerged drawing new dimensions into the explanation of economic phenomena. It is based on the principles of evolution and biology. What makes Evolutionary Economics distinct from the mainstream economics is its opposition to the explanation of economic phenomena from rational choices of profit-maximizing firms and utility-maximizing agents. Traditional economic theories are based on the assumptions of human rationality, self-interest and judgment. Evolutionary Economists have challenged these assumptions by arguing that human rationality is bounded and, as such, decisions of firms and consumers are habitual in nature. This evolving field of economics has benefited from the contributions of Joseph Schumpeter, Veblen, Hayek and others. This book is an interesting collection of articles discussing the concepts and various perspectives of Evolutionary Economics.
ABOUT THE AUTHOR B.Ravi Kumar Jain
Ravi Kumar Jain B holds an MBA degree (Finance) from Osmania University, Hyderabad and PGD ITM (E-commerce & EDI) from AIMA, New Delhi. He has worked as Assistant Professor in a B-school affiliated to Osmania University for four years in Hyderabad. Presently, he is working as a senior faculty member at Icfai Research Centre, Head quarters, heads Special projects team and also teaches at Icfai Business School, Hyderabad. He has presented several research papers in national and international conferences in India and abroad. He has got many of his articles published in several refereed journals. He has received an award, 'Researcher of the Year', from the Vice President of India, for the best contribution in an international conference on Enhancing Global Business Competitiveness in November 2004, at New Delhi. He has authored a book titled "Open Source Software: A Revolution in the Making" and has edited several books on the themes related to Internet and business management, the latest being "Internet Governance: An Introduction" and "IT Governance: An Introduction". His areas of interest include outsourcing, e-commerce, strategic management, technology in business and financial management.
ABOUT THE AUTHOR Krishna Kishore Puranam
Krishna Kishore Puranam holds a Postgraduate Diploma in Business Administration from Icfai Business School, Hyderabad and a Postgraduate Diploma in Information Technology from All India Management Association. He is currently working as a Consulting Editor with Icfai Business School Research Centre, Hyderabad. He has around eight years of industry experience and two years of academic experience. Prior to joining Icfai, he worked for companies like P N Moorthy & Co., Tax Consultants, Silver Springs, Citi Financial, and GE. His areas of interest include investments and psychology of investors.
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