Evolutionary Economics

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Contributing Business Writer

Collette McKenna Parker

May 30, 2008

Is our economy like our parent’s economy? How about our grandparents? What will the economies our children live in look like? And their children?

A new science called evolutionary economics suggests as much as our DNA affects the physical well-being of future generations, so might our fiscal actions affect their financial well-being. It works like this: good news on Wall Street encourages spending and the economy behaves well – like a self-fulfilling prophecy. The idea of evolutionary economics “looks at the economy as an ever-changing, complex adaptive system -- not unlike that of biological evolution,” writes Michael Shermer, author of Evolutionary Economics: Bottom Up Solutions to Business Problems in this month’s Fast Company. Click here to read more.

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