One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in

This book aims to discern and distinguish the essential features of basic economic theories and compare them with new theories that have arisen in recent years.

This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique

The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical,

A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can’t agree on whether i