Time, Choice and Dynamics in Economics

  • O. F. Hamouda


It is suggested in this chapter that the general outcome of social and economic activities is not the result of a smooth and stable pattern of behaviour, but is a result of momentarily balanced social forces. The interaction between individuals’ decisions and actions produces economic fluctuation in the short run, progressively inducing structural changes.


Causal Relation Economic Dynamic Logical Time Present Event Tensed Fact 
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© Stephen F. Frowen 1990

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  • O. F. Hamouda

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