The search an evolutionary perspective in economics goes back a long way. I have argued, indeed, that Adam Smith was the first evolutionary economist, that Malthus was the second, and that it was no accident that Darwin got his idea of natural selection when he was reading Malthus one evening for amusement (p. 120). The search an evolutionary perspective is a search a model which will enable us to perceive structure and pattern in the great ongoing flux of the universe through space and time. The evolutionary vision, which is perhaps a better word it than model, is a way of looking at an enormously complex universe, rather than an explicit model of a simpler reality. It sees the evolution of the universe as a process of constant ecological interaction under continually changing parameters. At any one moment the universe is a set with a large number of populations of different species. A population is a set of elements which are alike enough to be interesting, though they may not be identical in form and structure. A species is anything which has a population. It may include subatomic particles, photons and electrons, chemical atoms, molecules, DNA and genetic structures, cells, organisms, human beings, ideas, words, commodities, securities, money, and so on. The population of any species grows by additions and declines by subtractions. Additions may come from the formation of elements, from chemical reaction, as when hydrogen combines with oxygen to produce H20, from replications as with DNA, from births in the case of organisms, from the growth of seeds and plants, from the learning of know-how or know-what, from the production of human artifacts and goods, and so on. Subtractions come from such things as atomic fission, which destroys elements; the disassociation of chemical compounds; the disintegration or mutation of DNA; the death of organisms; the forgetting of learned structures; the consumption of commodities; and so on. A population grows if additions exceed subtractions, and declines if subtractions exceed additions. If it declines far enough, it becomes extinct and is reduced to zero. In any one population the additions and subtractions will be functions of all other populations of species around it that constitute its environment. Some of these will have favorable effects and make the population grow; others will have unfavorable effects and make it decline. For