Why is economics not a complex systems science?


Autoria(s): John Foster
Contribuinte(s)

G. Atkinson

Data(s)

01/12/2006

Resumo

The article argues that economics will have to become a complex systems science before economists can comfortably incorporate institutionalist and evolutionary economics into mainstream theory. The article compares the complex adaptive system of John Foster with that of standard economic theory and illustrates the difference through an examination of familiar production function. The place of neoclassical, Keynesian economics in complex systems is considered. The article concludes that convincing, multiple models have been made possible by the increase in widely available computing power available.

Identificador

http://espace.library.uq.edu.au/view/UQ:81537

Idioma(s)

eng

Publicador

Assoc Evolutionary Economics

Palavras-Chave #Economics #Self-organization #Adaptive Systems #Selection #C1 #340199 Economic Theory not elsewhere classified #729901 Technological and organisational innovation
Tipo

Journal Article