Demand, Complexity, and Long-Run Economic Evolution (Economic Complexity and Evolution) - Hardcover

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Andreas Chai is an Associate Professor at Griffith University specialising in the study of consumption behaviour from an evolutionary economic perspective and its implications for economic development, measuring poverty, structural change in the economy and climate change adaptation. His work has been published in the Journal of Economic Perspectives, Cambridge Journal of Economics as well as the Journal of Evolutionary Economics.

Chad M. Baum is a Postdoctoral Researcher at the Institute for Food and Resource Economics at the University of Bonn. His main research interests center on the interdisciplinary intersection between consumption theory, evolutionary economics, and public understanding of technological innovation in the food sector. Motivated by the broad pursuit of a sustainable Bioeconomy, his work has appeared in the Journal of Bioeconomics and he has collaborated on a number of interdisciplinary projects exploring the development and acceptanceof emerging technologies.

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The purpose of this contributed volume is to consider how global consumption patterns will develop in the next few decades, and what the consequences of that development will be for the economy, policymakers, and society at large. In the long run, the extent to which economic growth translates into better living conditions strongly depends on how rising affluence and new technologies shape consumer preferences. The ongoing rise in household income in developing countries raises some important questions: Will consumption patterns always continue to expand in the same manner as we have witnessed in the previous two centuries? If not, how might things evolve differently? And what implications would such changes hold for not only our understanding of consumption behavior but also our pursuit of more sustainable societies?