Quotation Scholz-Wäckerle, Manuel. 2021. Evolutionary Political Economy. Transformation and Simulation. KLI Colloquia, Konrad Lorenz Institute for Evolution and Cognition Research (KLI), 29.04.21


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Abstract

The subject of the presentation is the discussion of evolutionary political economy as a distinct research programme. Evolutionary political economy follows two central goals. First, to investigate and understand the endogenous dynamics of capitalist development and second, to use formal computational simulation methods, in particular agent-based modelling, synthesizing this knowledge for communication to a larger audience. Two distinct but interrelated processes shape political economic evolution simultaneously. There is a rather continuous process of variational change and growth, representing the more quickly dynamics of the circular flow, and a slower process of development carrying the contradictory motive forces of change which are tending towards disruptive transformation. The evolution of political economy unfolds as a stepwise sequence thereby. Traditionally, evolutionary economics has focused more on the former variational process by introducing e.g. population dynamics and related concepts into theories and models. The second transformational process is far more underrepresented in the literature, giving the occasion to develop an extended research programme, simply called evolutionary political economy. Theoretically, this work builds upon Marx, Schumpeter, Veblen and Georgescu-Roegen, understood as core thinkers of transformation with regard to the spatio-temporality of capitalist development. Otherwise, evolutionary political economy takes use of disaggregated simulation methods to communicate its ideas and findings to a larger community. In particular, the application of agent-based macroeconomic models is discussed, in exposing the interrelated dynamics of variation and transformation.

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Publication's profile

Status of publication Published
Affiliation External
Type of publication Unpublished lecture
Language English
Title Evolutionary Political Economy. Transformation and Simulation
Event KLI Colloquia
Location Konrad Lorenz Institute for Evolution and Cognition Research (KLI)
Event country Austria
Date April 29, 2021
URL https://www.kli.ac.at/en/events/kli_colloquia/view/609

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Scholz-Wäckerle, Manuel (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
1133 Computer-aided simulation (Details)
5325 Political economics (Details)
5334 Political economic policy (Details)
5335 Political economic theory (Details)
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