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Dotted Divider Line

July 16, 2008
Evolutionary Economics?

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On this video episode of IDTF, Senior Fellow Dr. John West takes a look at free market economics and business. It is often claimed that the free market operates like biological natural selection because the best ideas and products survive while others die out. However, West argues that the success of products and ideas is the result of intelligent decisions in designing products and developing new ideas. To mix economics and evolution together is to misunderstand both.