The Evolutionary Foundations of Economics

Abstract

As human traits and preferences were shaped by natural selection, there is substantial potential for the use of evolutionary biology in economic analysis. In this paper, we review the extent to which evolutionary theory has been incorporated into economic research. We examine work in four areas: the evolution of preferences, the molecular genetic basis of economic traits, the interaction of evolutionary and economic dynamics, and the genetic foundations of economic development. These fields comprise a thriving body of research, but have significant scope of further investigation. In particular, the growing accessibility of low cost molecular data will create more opportunities for research on the relationship between molecular genetic information and economic traits.

The Methodology of evolutionary and neoclassical economics as a consequence of the changes in the concept of human nature

“…It can be integrated with or replace neoclassical economics, so it is worth considering. 6 More and more economists, for instance Collins et al (2015), speak about the evolutionary foundations of modern economics.…”