The [punctuated equilibrium] theory proposes that the frequently observed scarcity or absence in the fossil record of specimens that are intermediate in morphology between successive fossil forms (each with sustained presence in the fossil record) is not always or even generally due to the incompleteness of the record. According to PE theory, the record should be taken at face value. The abrupt appearance of new fossil species reflects their development in bursts of evolution, after which species remain unchanged in their morphology for the species’ duration, which may extend for millions of years. The theory proposes that the prevailing view, that morphological evolution is predominantly gradual, must be replaced with a model of speciation with two distinct sequential components, a burst of change during the origination of a species, followed by a long period of stasis for the remaining duration of the species. Gould acknowledges that gradual and punctuational change both are represented in the fossil record, but he affirms that the punctuational mode appears at much higher frequency.
The PE theory provides, according to Gould, the foundation on which he builds the claim that macroevolution (i.e. evolution on the large scale with respect to time and morphological diversification) is an autonomous subject of evolutionary investigation, given that the punctuational pattern is not predictable based on the small and gradual genetic changes investigated by population geneticists and other students of microevolutionary processes, such as they occur in living organisms. Gould refers to me, with kind words, as supporting this claim of macroevolutionary autonomy and quotes me at length (p. 1023):
Gould said:
I have particularly appreciated the fairness of severe critics who generally oppose punctuated equilibrium, but who freely acknowledge its legitimacy as a potentially important proposition with interesting implications, and as a testable notion that must be adjudicated in its own macroevolutionary realm. Ayala (1982) has been especially clear and gracious on this point:
Ayala said:
If macroevolutionary theory were deducible from microevolutionary principles, it would be possible to decide between competing macroevolutionary models simply by examining the logical implications of microevolutionary theory. But the theory of population genetics is compatible with both punctualism and gradualism; and, hence, logically it entails neither. Whether the tempo and mode of evolution occur predominantly according to the model of punctuated equilibria or according to the model of phyletic gradualism is an issue to be decided by studying macroevolutionary patterns, not by inference from microevolutionary processes. In other words, macroevolutionary theories are not reducible (at least at the present state of knowledge) to microevolution. Hence, macroevolution and microevolution are decoupled in the sense (which is epistemologically most important) that macroevolution is an autonomous field of study that must develop and test its own theories.