How Long to Read Microfoundations of Evolutionary Economics

How Long Does it Take to Read Microfoundations of Evolutionary Economics?

It takes the average reader 5 hours and 54 minutes to read Microfoundations of Evolutionary Economics by Yoshinori Shiozawa

Assuming a reading speed of 250 words per minute. Learn more

Description

This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.

How long is Microfoundations of Evolutionary Economics?

Microfoundations of Evolutionary Economics by Yoshinori Shiozawa is 346 pages long, and a total of 88,576 words.

This makes it 117% the length of the average book. It also has 108% more words than the average book.

How Long Does it Take to Read Microfoundations of Evolutionary Economics Aloud?

The average oral reading speed is 183 words per minute. This means it takes 8 hours and 4 minutes to read Microfoundations of Evolutionary Economics aloud.

What Reading Level is Microfoundations of Evolutionary Economics?

Microfoundations of Evolutionary Economics is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Microfoundations of Evolutionary Economics?

Microfoundations of Evolutionary Economics by Yoshinori Shiozawa is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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