Following on from John’s paper, The Map Is Not the Territory: An Essay on the State of Economics, Giovanni Dosi, Professor of Economics at the Sant’Anna School of Advanced Studies in Pisa, offers his response entitled, Elements of an Evolutionary Paradigm, in which he contends that the current economic paradigm – at its core the notions of equilibrium, utility maximization, and stable preferences – needs to be replaced by an alternative evolutionary paradigm.
