Neoclassical economics is heavily based on a formalistic method, primarily centred on mathematical deduction. Consequently, mainstream economists became overfocused on describing the states of an economy rather than understanding the processes driving these states. However, many phenomena arise from the intricate interactions among diverse elements, eluding explanation solely through micro-level rules. Such systems, characterised by emergent properties arising from interactions, are defined as complex. This Element delves into the complexity approach, portraying the economy as an evolving system undergoing structural changes over time.
Les mer
Introduction; 1. How Economics Came to Believe it was a Natural Science; 2. Economic Complex Systems; Conclusion; Acronyms; References.
This Element delves into complexity in economics, portraying the economy as an evolving system undergoing structural changes over time.
Produktdetaljer
ISBN
9781009547734
Publisert
2025-01-02
Utgiver
Cambridge University Press
Vekt
140 gr
Høyde
229 mm
Bredde
151 mm
Dybde
5 mm
Aldersnivå
G, 01
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
92