Change Speeds and Time Scales in Economic Dynamics—An Insight by Synergetic Economics
The purpose of this study is to discuss the relationship between change speeds of economic variables and time scales in economic dynamics in the light of synergetic economics. First, we theoretically discuss the issue. Second, we argue that economic variables have different change speeds in different societies. The following table provides, in rough sense, some examples about the relationship between “types”, such as agriculturial, industrial and knowledge-based, of societies and change speeds of the three important - population, capital and knowledge — variables.