Evolutionary Economics
Evolutionary economics is basically an economic methodology that is derived or based on biology. This methodology attempts to provide a methodical explanation on the economic growth, wealth manufacture and technological innovations booming along with the progression of economic stability.
Implementing the Convention on Biological Diversity in towns and cities
The formulation of evolutionary economics started in the mid-19 century with the schema designed by Karl Marx. He then, introduces the perception that human’s character is not invariable by nature and is not determinative of the nature of the social system. Thus, he also forwarded the principle that human behaviour is part of the social and economic system. In the nutshell, evolutionary economics refer to the basic ideas that determine and affect the status of socio-economic system and economic trends like products, technologies and institutional innovations.