The Evolutionary Invisible Hand

Viac o knihe

The book introduces a novel theoretical framework for understanding economic phenomena over time, emphasizing the importance of individual portfolios of goods in satisfying needs. It modifies the traditional theory of subjective value by proposing that satisfaction arises from the overall portfolio rather than individual goods. This approach addresses the limitations of previous theories that struggled with changing value contexts over time. Additionally, it anchors this modification in an evolutionary perspective, enhancing the applicability of economic analysis over time.