Synopsis Economics has evolved over a long period of time. It has seen the emergence of various schools of thought enriched with the ideas of great philosophers. In recent times, a new branch of economic theory called Evolutionary Economics has emerged drawing new dimensions into the explanation of economic phenomena. It is based on the principles of evolution and biology. What makes Evolutionary Economics distinct from the mainstream economics is its opposition to the explanation of economic phenomena from rational choices of profit-maximizing firms and utility-maximizing agents. Traditional economic theories are based on the assumptions of human rationality, self-interest and judgment. Evolutionary Economists have challenged these assumptions by arguing that human rationality is bounded and, as such, decisions of firms and consumers are habitual in nature. This evolving field of economics has benefited from the contributions of Joseph Schumpeter, Veblen, Hayek and others. This book is an interesting collection of articles discussing the concepts and various perspectives of Evolutionary Economics.