Abstract
This paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces of natural selection are made weaker because trade allows people to specialize in those activities where they are strong, and to offset their weaknesses by purchasing adequate goods on the market. Absent trade, people must allocate their time among all the activities necessary for their fitness. A productivity advantage in any given dimension will increase survival probability, so that in the long run natural selection makes sure that population is entirely made of individuals with the strongest alleles at all loci. Under trade, there exist long-run equilibria where weaker individuals are able to achieve the same survival potential as the fittest, by specializing in activities where they are not at a disadvantage, and purchasing goods that are substitute for activities for which they are weak.
Original language | English (US) |
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Pages (from-to) | 397-412 |
Number of pages | 16 |
Journal | Journal of Theoretical Biology |
Volume | 247 |
Issue number | 3 |
DOIs | |
State | Published - Aug 7 2007 |
Keywords
- Division of labor
- Evolution
- Exchange
- Gene-culture coevolution
- Genotype
- Markets
- Natural selection
- Specialization
- Time allocation
- Trade
ASJC Scopus subject areas
- Statistics and Probability
- Modeling and Simulation
- General Biochemistry, Genetics and Molecular Biology
- General Immunology and Microbiology
- General Agricultural and Biological Sciences
- Applied Mathematics