We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns to scale production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of...

The prices of 27 internationally traded commodities are decomposed into transitory and permanent shocks by applying an ideal band-pass filter to monthly data from 1970-2020. The two types of shocks contributed roughly equally to price variations, but with wide heterogeneity. Permanent shocks...

This paper embeds a wide-angled overview of the process of change, spanning the evolution of the species to the modern human-centered period. The model is based on the central proposition that change ensues from the supply-demand interaction between disorder and order, chaos and complexity....

Chapter 1. Complexity Theory and Broadened Rationality on Man and Society -- Chapter 2. Influential Linearized Theories on Man and Society -- Chapter 3. Bifurcations, Chaos, and Unpredictability -- Chapter 4. Self-Organization, Catastrophes, and Structural Changes -- Chapter 5 Uncertainties with...