Knowledge, institutions, and evolution in economics

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"In this volume, Brian J. Loasby explores how the limitations of human knowledge create opportunities as well as problems in the modern economy. Institutions emerge as a way of coping with the problems and helping to exploit the opportunities in an evolutionary process. However, this evolutionary process does not necessarily produce optimal results, making many of the optimisation techniques of modern economics less than useful."
"This volume explores how the limitations of human knowledge creates opportunities as well as problems in the modern economy."

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Analyse économique.

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