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Evolutionary Genetic Mechanisms of Economic Growth and Development

Evolutionary Genetic Mechanisms of Economic Growth and Development

Journal of Institutional Studies, , Vol. 12 (no. 2),

Evolutionary ideas in economics has a long history – this is because considering the general problems of economic development in its broad formulation requires going beyond the strict framework of orthodox economic theory. At the same time, contemporary mainstream theorizing provides significantly broader opportunities for evolutionary economists. During the last years we have seen a willingness to accept implicit evolutionary perspective and history-friendly approach regarding much of what is going on in the economic world, deeply review ideas about human activity and the behavior of economic actors. Evolutionary economists themselves are faced with internal fragmentation of research areas and methodological principles, as well as an increasingly need to create a systematic and compelling approach to regulation, for example, in the field of macroeconomic policy. The authors attempted, using the potential of the evolutionary genetic approach to take a more methodologically systematic view at the mechanisms of growth and development in all their complexity. The article focuses on the institutional and genetic patterns, principles and problems of economic evolution and growth, the practical application directions of the identified theoretical approaches. The logical and semiotic nature of economic genes, the structure of the genotype, it’s place in the conservative and liberal structures are revealed. The development of the genotype in the economic system in the process of evolution is demonstrated, the main genetic mechanisms and factors of economic growth are identified. In the article we show the impact of economic mutations, phenotypic features of economic system on economic growth and development, the formation of national economy results and social wealth.

Keywords: economic growth and development; economic evolution; evolutionary economics; economic genes; determinant factors of economic evolution

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