Evolution, time, production and the environment

This second edition arises from two main factors: the initial printing sold out more quickly than anticipated, and colleagues suggested its relevance extends beyond ecological economics to general economics. Our distinction between genotypic and phenotypic evolution can characterize not only economic sectors but entire economies and schools of thought. For example, the Austrian subjectivist school, which addresses ignorance and novelty, can be analyzed through the lens of genotypic development, while neoclassical economics focuses on phenotypic development. When Dr. Müller from Springer-Verlag proposed a second edition, we were eager to ensure the book's continued availability. Many readers and reviewers of the first edition raised questions about our concepts, including genotype, phenotype, ignorance, surprise, novelty, and predictable versus unpredictable processes. These concepts are crucial for understanding evolution and the invention of new techniques. While we considered modifications and extensions to the original text, we ultimately decided to limit ourselves to correcting errors from the first edition and adding two extensions—one major and one minor—based on colleagues' advice.