Rethinking Economic Behaviour: How the Economy Really Works

Simpson, D.

Treating the market economy as a complex adaptive system offers a better explanation of how it works than does the mechanical analogy of neoclassical equilibrium theory. The nonlinear interactions of millions of individual human beings, coupled with the influence of chance, result in the emergence of markets. Other regularities emerge in the patterns of economic growth, business cycles and in the spatial locations of economic activity. Rethinking Economic Behaviour demonstrates the implication of complexity theory for business and government decision-making, and concludes with an assessment of the future evolution of the market economy.

Details

Published by: Palgrave Macmillan

Publication Date: 2000-09-29

Format: Hardcover

ISBN-13: 9780333779262

DOI: 10.1057/9780230513556

Dimensions: 203cm x127cm

Pages: 234