Rethinking systemic change: economic evolution and institutions
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Last year, Shawn Cunningham and I did some research for the BEAM Exchange. The products have now been published on the BEAM Website. Here the blurb:
The primary aim of this research project was to find a conceptually sound definition of systemic change. To do so, it was essential to gain a better understanding of how economies change. The central part of the research work, therefore, was an extended literature review on three bodies of knowledge: evolutionary economics, new institutional economics and complexity theory. There is a growing interest in these bodies of knowledge, combined often called New Economic Thinking, and how they affect economic development. Hence, while rethinking systemic change, this work also contributes to answering the broader question of how market systems approaches can contribute to inclusive economic development. The answer, in short, is to shift the focus away from improving transactions at the micro level towards enabling actors to continuously shape an institutional landscape that supports inclusive economic evolution.
Longer technical paper: https://beamexchange.org/resources/861/
Short discussion paper: https://beamexchange.org/resources/860/