“Evolutionary economics”: possibilities for forming the policy of growth and technological changes

The study is devoted to the consideration of internal methodological limitations of the flow of “evolutionary economics”. The author’s goal is to identify the inherent limitations of the analysis of “evolutionary economics” and limitations in terms of influence on the formation of economic policy. The methodology is based on the theory of evolutionary economics and orthodox approaches in the field of economic analysis, the theory of economic policy and growth. The author comes to the conclusion that “evolutionary economics”, despite the broad mathematical apparatus used, has limited capability for planning and interpreting the implementation of economic policy — in particular, the use of tools for stimulating economic growth at which mainstream economics is still good, although not without certain constraints.

Thus, in order for evolutionary economics as a scientific movement to acquire significant weight among economic theories on the basis of which it is possible to build economic policy, it is necessary to methodologically solve the problem of harmonizing short-term and long-term guidelines and parameters of development, as well as the problem of fast and slow variables, describing the functioning of the economic system. The solution seems to be the so-called neo-Schumpeterian theory of evolution, with the help of which it is possible to model and explain development at various time intervals by analyzing the competition of old and new combinations, affecting not only innovations, technologies, but also institutions, as well as interacting agents — innovators, imitators and conservatives. It is shown how structural dynamics reflects the evolution of the economic system.