Democracy as an evolutionary process

Chapter prepared for the Handbook of Evolutionary Economics. Editors: Dopfer K., Nelson R.R, Pyka A. and Potts J. Editorial: Routledge.

23 Pages Posted: 18 Feb 2021

Date Written: January 10, 2021

Abstract

In this chapter we argue that contemporary Democracies undergo intense political processes of competitive transformation, in such a way that they can be analyzed as evolving complex systems. We draw upon Schumpeterian evolutionary economics, to explore how local and global interactions between heterogeneous boundedly-rational citizens and platforms, innovative processes of competition to reach power and gradually transform society, and the co-evolution between the political and the economic realms, all lead to institutional transformations underlying political and economic change. The evolutionary approach to Democracy highlights new political paradoxes and dilemmas that must be explored, monitored and faced in a dynamic way. We claim that there exists a fruitful evolutionary approach to political economy that can add surprising findings to those provided by Public Choice theory and Neoclassical Welfare Economics.

Keywords: Democracy, Evolutionary Economics, Innovation, Political Economy

JEL Classification: A32, A33, P16,

Suggested Citation

Almudi, Isabel and Fatás-Villafranca, Francisco, Democracy as an evolutionary process (January 10, 2021). Chapter prepared for the Handbook of Evolutionary Economics. Editors: Dopfer K., Nelson R.R, Pyka A. and Potts J. Editorial: Routledge., Available at SSRN: https://ssrn.com/abstract=3763326 or http://dx.doi.org/10.2139/ssrn.3763326

Isabel Almudi (Contact Author)

University of Zaragoza ( email )

Gran Via 2
Zaragoza, 50005
Spain

Francisco Fatás-Villafranca

University of Zaragoza ( email )

Zaragoza, 50005
Spain

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