Abstract
In this chapter, simple and complex economic systems are compared. The concept of complexity in economic theory is presented along with the ways to measure complexity in an economy. Also, there is a description of the contribution of the concept of information to economic theory, to be found in the basic assumption of the prevalent economic thought about perfect information. The analysis continues describing how imperfect information and asymmetry create market failures. In conclusion, the analysis treats the various types of economic systems aiming at a better understanding of the distinction between complexity and diversity.
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Petrakis, P.E. (2020). Complex Economic Systems, Information and Forms of Capitalism. In: Theoretical Approaches to Economic Growth and Development. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-50068-9_4
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DOI: https://doi.org/10.1007/978-3-030-50068-9_4
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