Richard R. Nelson

Richard R. Nelson is a prominent economist and professor known for his work on innovation, technological change, and the economics of institutions. He co-authored the influential book "An Evolutionary Theory of Economic Change," which explores how economic processes evolve over time, similar to biological evolution. Nelson argues that knowledge and learning are crucial for economic development and that organizations adapt and innovate based on their environments. His research highlights the importance of creativity and institutional frameworks in shaping economic outcomes, contributing significantly to our understanding of how economies grow and evolve.