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Economic Evolution and Structural Adjustment

Proceedings of Invited Sessions on Economic Evolution and Structural Change Held at the 5th International Conference on Mathematical Modelling at the University of California, Berkeley, California, USA July 29–31, 1985

  • David Batten
  • John L. Casti
  • Börje Johansson
Conference proceedings

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 293)

Table of contents

  1. Front Matter
    Pages N2-VI
  2. Economic Dynamics, Evolution and Structural Adjustment

    1. B. Johansson, D. Batten, J. Casti
      Pages 1-23
  3. Dynamic Competition and Economic Evolution

  4. Periodic Cycles and Structural Adjustment

    1. Front Matter
      Pages 185-185
    2. G. Haag, W. Weidlich, G. Mensch
      Pages 187-226
    3. J. Glombowski, M. Krüger
      Pages 260-290
  5. Location and Spatial Dynamics

    1. Front Matter
      Pages 335-335
    2. M. J. Beckmann
      Pages 337-348
  6. Back Matter
    Pages 381-387

About these proceedings

Introduction

Since the beginning of the fifties, the ruling paradigm in the discipline of economics has been that of a competitive general equilibrium. Associated dynamic analyses have therefore been preoccupied with the stability of this equilibrium state, corresponding simply to studies of comparative statics. The need to permeate the boundaries of this paradigm in order to open up new pathways for genuine dynamic analysis is now pressing. The contributions contained in this volume spring from this very ambition. A growing circle of economists have recently been inspired by two distinct but complementary sources: (i) the pathbreaking work of Joseph Schumpeter, and (ii) recent contributions to physics, chemistry and theoretical biology. It turns out that problems which are firmly rooted in the economic discipline, such as innovation, technological change, business cycles and economic development, contain many clear parallels with phenomena from the natural sciences such as the slaving principle, adiabatic elimination and self-organization. In such dynamic worlds, adjustment processes and adaptive behaviour are modelled with the aid of the mathematical theory of nonlinear dynamical systems. The dynamics is defined for a much wider set of conditions or states than simply a set of competitive equilibria. A common objective is to study and classify ways in which the qualitative properties of each system change as the parameters describing the system vary.

Keywords

Schumpeter business cycle dynamical systems economic dynamics economic theory economics equilibrium modeling

Editors and affiliations

  • David Batten
    • 1
  • John L. Casti
    • 2
  • Börje Johansson
    • 1
    • 3
  1. 1.Department of EconomicsUniversity of UmeåUmeåSweden
  2. 2.Institute for Econometrics & Operations ResearchTechn. Univ. of ViennaViennaAustria
  3. 3.CERUM (Centre for Regional Science Research)Sweden

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-662-02522-2
  • Copyright Information Springer-Verlag Berlin Heidelberg 1987
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-540-18183-5
  • Online ISBN 978-3-662-02522-2
  • Series Print ISSN 0075-8442
  • Buy this book on publisher's site