ABSTRACT

First there are matters which we agree require further investigation by evolutionary minded economists with every prospect of clear and interesting results. The questions of the relation between intra-sectoral and inter-sectoral competition, the further elaboration of entry and exit processes, the inclusion of sectors producing means of production are not matters of fundamental difference – they are simply an agenda for further research. Equally, a treatment of various kinds of increasing returns is a natural complement to a dynamic treatment of competition and not the reef on which the ship threatens to be dashed,1 as is the case with equilibrium theory. If leaving these developments aside for the moment involves ‘partial’ analyses, so be it.