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Abstract

Any system made of non trivially moving and interacting elements -and no economist would deny that such features belong to any economic system- is in need of various forms and mechanisms of regulation, in order to survive and to perform its tasks. Such regulatory factors may be either external to the system, or embodied in its architecture¹, or both. The regulation may be loose, such as to allow the survival of the systems or their satisfactory performance² under average circumstances, or optimal. Different schools of thought differ in their way of regarding the needs or the options for regulation, basically as a corollary of their vision about the functioning of the system.