The Naturalist View of Universal Darwinism: An Application to the Evolutionary Theory of the Firm
COMPLEXITY AND THE ECONOMY, J. Finch and M. Orillard, eds., Cheltenham: Edward Elgar, pp. 127-147, 2005
39 Pages Posted: 21 Mar 2003 Last revised: 15 Mar 2010
Date Written: September 14, 2002
The purpose of this paper is to contribute to recent efforts to ground evolutionary theory in economics in the principles of Universal Darwinism. The paper will contrast two views of evolution, based on the Ultra-Darwinian and Naturalist theory of biological evolution, both of which are consistent with the principles of Universal Darwinism. It is argued that the specific characteristics of the Naturalist view make it the better starting point for the development of an evolutionary theory of the firm. This claim is substantiated empirically by analysing a crucial episode in the history of the semiconductor firm Intel. The paper concludes with a prospective outlook on the development of an evolutionary theory of the firm along the lines of a Naturalist view of Universal Darwinism.
Keywords: Evolution, Universal Darwinism, Theory of the Firm, Routines, Intel
JEL Classification: B25, B52, B53, D20, D21, D83, L20, L63, M10
Suggested Citation: Suggested Citation