To efficiently realize a specified goal in a distributive fashion, there needs to be an appropriate 'division of labor.' This is true for distributive algorithms that take advantage of the concurrent features of the new generation of computers. This is true in the design of a complex...

It was early noted that the Phillips Curve explanation of wage dynamics lacks a solid microeconomic basis. As the explanatory unemployment variable in the Phillips relation is intuitively to be regarded as an indicator of labour scarcity, several authors have argued that the determination of...

Bounded rationality provides a fundamental economic explanation for non-rational modes of behavior. These non-rational modes underlie both the erratic perturbations of entrepreneurship and the systematic waves of diffusion they initiate which in turn guarantee that the economy operates out of...