Richard R. Nelson
Richard Nelson is currently the George Blumenthal Professor Emeritus of International and Public Affairs, Business, and Law, and the director of the Program on Science, Technology and Global Development at Columbia's The Earth Institute. He is also Visiting Professor at the University of Manchester. He has served as research economist and analyst at the Rand Corporation, and at the President’s Council of Economic Advisors. His central interests have been in long-run economic change. Much of his research has been directed toward understanding technological change, how economic institutions and public policies influence the evolution of technology, and how technological change in turn induces institutional and economic change more broadly. Along with Sidney Winter, he has pioneered in trying to develop a way of economic theorizing that recognizes explicitly that the economy is almost always undergoing change, most of it unpredictable, and that theories that assume that economic agents understand well the context in which they are operating, and that the system is in equilibrium, are inadequate for analysis of many important economic questions. His book with Winter, An Evolutionary Theory of Economic Change is widely recognized as a landmark in this field.