The Chair of Evolutionary and Institutional Economics is one of the few professorships worldwide which is devoted to this vibrant area of transdisciplanary research. It is currently held by Professor Carsten Herrmann-Pillath on a part-time basis. The Chair is also responsible for academic supervision and academic counselling at the Sino-German School of Governance
Evolutionary and Institutional Economics merges methodologies of the sciences and the humanities. It builds on the intellectual traditions of thinkers such as the Adam Smith of the „Theory of the Moral Sentiments“, the great continental tradition of the Historical School and the economic sociology of Max Weber, the American tradition of institutionalism founded by Thorstein Veblen. These traditions have been transformed into different strands of evolutionary and institutional thought of the 20th century, such as the Schumpeterian dynamics, the German Freiburg School and the Hayekian perspective on emergent order. Evolutionary and institutional economics also activates the intellectual potential of dissenting views in economics, such as the Marxian tradition which has triggered many contemporary independent schools of thought, such as the French regulation school. In the past three decades, evolutionary and institutional economics has received a boost by the study of competition and technology, following the Schumpeterian lead, with seminal contributions by Richard Nelson and Sidney Winter. Since Veblen’s early statement, evolutionary and institutional economics also strives to establish a firm basis in the sciences, especially in biology and, more recently, complexity theory.
For more on this, see the site http://www.evolutionaryeconomics.net/, which is published in a 2004 version.
The Chair joins a recent initiative by European and Australian researchers to establish „cultural science“ as a new overarching paradigm in economics, the sciences, and the humanities. See http://www.cultural-science.org/index.html