Advertisement

Implications of Synergetic Economics

  • Wei-Bin Zhang
Part of the Springer Series in Synergetics book series (SSSYN, volume 53)

Abstract

We have examined unstable behavior in different nonlinear economic dynamic systems. It has been argued that linearization and stability are not universal but limited cases in economic evolutionary processes. These emphases are different from what traditional economics focuses on. For instance, in Foundations of Economic Analysis Samuelson tried to find central features of economic phenomena in optimality, linearization and stability. With traditional comparative statics analysis and the correspondence principle we can only deal with systems in which small perturbations of parameters result in small changes of variables. In contrast to the traditional dynamics approach, this book studies those properties of dissipative systems in which small shifts of parameters cause qualitative changes of the dynamic behavior. We have shown that when the system becomes unstable, for instance, via perturbations in parameters, nonlinear terms become very important in determining the behavior of the system. In this chapter, we examine the economic implications of these observations.

Keywords

Economic System Capitalist Society Normal Science Economic Phenomenon Macroscopic Variable 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Springer-Verlag Berlin Heidelberg 1991

Authors and Affiliations

  • Wei-Bin Zhang
    • 1
  1. 1.Institute for Futures StudiesStockholmSweden

Personalised recommendations