Skip to main content
SpringerLink
Log in

Kaleidic Economies and Internally Generated Change

  • Chapter
  • First Online:
Macroeconomics as Systems Theory

  • 526 Accesses

Abstract

This chapter elaborates the ecology of plans notion by explaining that economic systems are naturally fluid or turbulent and not in placid states of equilibrium. Once society is recognized to resemble an active pedestrian crowd more than a parade, turbulence of variable intensity is a societal characteristic. That turbulence emerges out of the continual injection of entrepreneurial plans into society where those plans conflict with existing plans. What most macro theorists label as exogenous shocks are instead the misidentified conflicts among plans that entrepreneurship inserts into society. Public ordering, moreover, intensifies turbulence within society, contrary to conventional claims on behalf of the moderating influence of political action.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 89.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 119.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 119.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Acocella, N. 1988. The Foundations of Economic Policy. Cambridge: Cambridge University Press.

    Google Scholar 

  • Arrow, K.J., and F.H. Hahn. 1971. General Competitive Analysis. Amsterdam: North Holland.

    Google Scholar 

  • Buchanan, J.M. 1959. Positive Economics, Welfare Economics, and Political Economy. Journal of Law and Economics 2: 124–38.

    Article  Google Scholar 

  • Coser, L.A. 1964. The Functions of Social Conflict. New York: Simon and Schuster.

    Google Scholar 

  • DelliSanti, D., and R.E. Wagner. 2018. Bankruptcies, Bailouts, and Some Political Economy of Corporate Reorganization. Journal of Institutional Economics 14: 833–51.

    Article  Google Scholar 

  • Devereaux, A., and R.E. Wagner. 2020. Game Theory as Social Theory: Finding Spontaneous Order. Manuscript, George Mason University.

    Google Scholar 

  • Epstein, R.A. 1985. Takings: Private Property and the Power of Eminent Domain. Cambridge, MA: Harvard University Press.

    Google Scholar 

  • Epstein, R.A. 1995. Simple Rules for a Complex World. Cambridge, MA: Harvard University Press.

    Google Scholar 

  • Hirshleifer, J. 1970. Investment, Interest, and Capital. New York: Prentice-Hall.

    Google Scholar 

  • Jacobs, J. 1992. Systems of Survival. New York: Random House.

    Google Scholar 

  • Knight, F.H. 1921. Risk, Uncertainty, and Profit. Boston: Houghton-Mifflin.

    Google Scholar 

  • Leijonhufvud, A. 1981. Information and Coordination. New York: Oxford University Press.

    Google Scholar 

  • MacIntyre, A. 1988. Whose Justice? Which Rationality?. South Bend, IN: University of Notre Dame Press.

    Google Scholar 

  • Manne, H.G. 1965. Mergers and the Market for Corporate Control. Journal of Political Economy 73: 10–20.

    Article  Google Scholar 

  • Michels, R. 1912 [1962]. Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracy. New York: Collier Books.

    Google Scholar 

  • Mises, L. 1966. Human Action, 3rd ed. Chicago: Henry Regnery.

    Google Scholar 

  • Morgenstern, O. 1972. Thirteen Critical Points in Contemporary Economic Theory. Journal of Economic Literature 10: 1163–89.

    Google Scholar 

  • Pareto, V. 1935. The Mind and Society. New York: Harcourt Brace.

    Google Scholar 

  • Patrick, M., and R.E. Wagner. 2015. From Mixed Economy to Entangled Political Economy: A Paretian Social-Theoretic Orientation. Public Choice 164: 103–16.

    Article  Google Scholar 

  • Pigou, A.C. 1912. Wealth and Welfare. London: Macmillan.

    Google Scholar 

  • Pirsig, R. 1974. Zen and the Art of Motorcycle Maintenance: An Inquiry into Values. New York: Harper Collins.

    Google Scholar 

  • Podemska-Mikluch, M., and R.E. Wagner. 2013. Dyads, Triads, and the Theory of Exchange: Between Liberty and Coercion. Review of Austrian Economics 26: 171–82.

    Article  Google Scholar 

  • Polya, G. 1954. Mathematics and Plausible Reasoning, 2 vols. Princeton, NJ: Princeton University Press.

    Google Scholar 

  • Romer, P.M. 1986. Increasing Returns and Long-Run Growth. Journal of Political Economy 94: 1002–37.

    Article  Google Scholar 

  • Schelling, T.C. 1978. Micromotives and Macrobehavior. New York: Norton.

    Google Scholar 

  • Schoeck, H. 1969. Envy: A Theory of Social Behavior. New York: Harcourt Brace.

    Google Scholar 

  • Schumpeter, J.A. 1934. Theory of Economic Development, 2nd ed. Cambridge, MA: Harvard University Press.

    Google Scholar 

  • Shackle, G.L.S. 1972. Epistemics and Economics. Cambridge: Cambridge University Press.

    Google Scholar 

  • Shackle, G.L.S. 1974. Keynesian Kaleidics. Edinburgh: Edinburgh University Press.

    Google Scholar 

  • Solow, R.M. 1956. A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics 70: 65–94.

    Article  Google Scholar 

  • Tinbergen, J. 1952. On the Theory of Economic Policy. Amsterdam: North-Holland.

    Google Scholar 

  • Vriend, N.J. 2002. Was Hayek an Ace? Southern Economic Journal 68: 811–40.

    Article  Google Scholar 

  • Wagner, R.E. 1999. Understanding the Tobacco Settlement: The State as a Partisan Plaintiff. Regulation 22 (4): 38–41.

    Google Scholar 

  • Wagner, R.E. 2012. Viennese Kaleidics: Why It’s Liberty More Than Policy That Calms Turbulence. Review of Austrian Economics 25: 283–97.

    Article  Google Scholar 

  • Wagner, R.E. 2016. Politics as a Peculiar Business: Insights from a Theory of Entangled Political Economy. Cheltenham, UK: Edward Elgar.

    Book  Google Scholar 

  • Walras, L. 1874 [1954]. Elements of Pure Economics. Homewood, IL: Richard D. Irwin.

    Google Scholar 

  • Weintraub, E.R. 1993. General Equilibrium Analysis: Studies in Appraisal. Ann Arbor: University of Michigan Press.

    Google Scholar 

  • Wolfram, S. 2002. A New Kind of Science. Champaign, IL: Wolfram Media.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Department of Economics, George Mason University, Fairfax, VA, USA

    Richard E. Wagner

Authors
  1. Richard E. Wagner
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Richard E. Wagner .

Rights and permissions

Reprints and permissions

Copyright information

© 2020 The Author(s)

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Wagner, R.E. (2020). Kaleidic Economies and Internally Generated Change. In: Macroeconomics as Systems Theory. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-44465-5_5

Download citation

  • DOI: https://doi.org/10.1007/978-3-030-44465-5_5

  • Published:

  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-030-44464-8

  • Online ISBN: 978-3-030-44465-5

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

Publish with us

Policies and ethics

Search

Navigation