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Universal Coordination Instrument of Economic Individuals
Parinov, Sergey - 2024
that lead to two types of equilibrium in the economic system. This allows the system to operate efficiently under … substantive disequilibrium. In a face of unavoidable disturbances, a rational economic order consists of restoring equilibrium in … a computer system to facilitate the efficient re-coordination of economic activities and restore equilibrium. …
Persistent link: https://www.econbiz.de/10015213456
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Science, Technology and Innovation for Economic Growth: Linking Policy Research and Practice in "STIG Systems"
David, Paul; Aghion, Philippe - 2008
This paper reflects on the relevance of "systems-theoretic" approaches to theinterdependent policy issues relating to the dynamics of science, technology and innovation and their relationship to economic growth. Considering the approach that characterizes much of the current economics...
Persistent link: https://www.econbiz.de/10015213476
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Macroeconomics Is Still Useful and Necessary: A Mechanism to Explain the Condition when Strict Convexity is Unsatisfied
Harashima, Taiji - 2024
show that macroeconomics is still important, useful, and needed on the basis of the concept of a “Nash equilibrium of a …
Persistent link: https://www.econbiz.de/10015213574
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New Economics
Obregon, Carlos - 2020
None of the known macroeconomic theories are adequate to understand what to do in a global crisis like the 2020 Global Pandemic. Rational Expectations and monetarism cannot even ex-plain how is that a global crisis like this happens. The IS-LM model was designed to manage business cycles, but...
Persistent link: https://www.econbiz.de/10015214327
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A Simple Model of Speculation- The Welfare Analysis and Some Problems in the Decision Making Theory
Aoki, Takaaki - 2003
This article analyzes the effect of speculation on the economic welfare from various criteria, using a simple Edgeworth box within a three-period Walrasian competition framework. Here “speculation” is defined as a series of transition processes of each agent’s spontaneous production of...
Persistent link: https://www.econbiz.de/10015214991
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Assessment of the impact of the Economic Partnership Agreement between the ECOWAS countries and the European Union
Karingi, Stephen; Oulmane, Nassim; Lang, Rémi; Sadni … - 2005
. The third section deals with the analytical framework in general equilibrium. It contains a presentation of the Global … partial equilibrium which is complementary to the general-equilibrium modelling. The assessments of the economic impacts of … the EPAs for Africa, using the general-equilibrium model, are analysed in the sixth section, while those particularly …
Persistent link: https://www.econbiz.de/10015215576
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Could Markets' Equilibrium Sets Be Fractal Attractors?
Dominique, C-Rene - 2009
The assumption that markets are positive linear structures moving toward stable fixed-point equilibria is not supproted by empirical investigations.This note reformulates the purest and the simplestof all Walrasian models, i. e.,a pure exchange economy, and shows that even such a simple market...
Persistent link: https://www.econbiz.de/10015215793
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Macroeconomic Order from Microeconomic Chaos
Leiashvily, Paata - 2020
In this article, the problem of self-organization of economic processes in conditions of perfect competition, based on the interaction of individual and social economic values and market prices, is considered. On the basis of dialectical analysis, the deep internal unity of production and...
Persistent link: https://www.econbiz.de/10015216166
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Social Quality and Precarity: Approaching New Patterns of Societal (Dis)Integration
Herrmann, Peter; van der Maesen, Laurent J.G. - 2008
The main issue of this article is to discuss the question of ‘precarity’ in the context of the theory of social quality (see Beck et al, 2001), with which to pave the way for developing further the theoretical foundation of precarity. Societal practice is the main challenge this concept...
Persistent link: https://www.econbiz.de/10015216169
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La crisis económica actual: una visión desde la economía política
Sergio, Reuben - 2009
The paper criticizes the conception of value on behalf of the conventional economic theory, blaming it for the current economic school’s incapacity to explain the actual economic crisis and to offer an adequate perspective to settle a solution. It proposes an explanation based on the tendency...
Persistent link: https://www.econbiz.de/10015216753