Rethinking Economic Behaviour

Zusatztext

Treating the market economy as a complex adaptive system offers a better explanation of how it works than does the mechanical analogy of neoclassical equilibrium theory. The nonlinear interactions of millions of individual human beings, coupled with the influence of chance, result in the emergence of markets. Other regularities emerge in the patterns of economic growth, business cycles and in the spatial locations of economic activity. Rethinking Economic Behaviour demonstrates the implication of complexity theory for business and government decision-making, and concludes with an assessment of the future evolution of the market economy.

Autorenportrait

DAVID SIMPSON is Economic Adviser to the Standard Life Assurance Company, and is currently an Honorary Professor at Heriot-Watt University, a Trustee of the David Hume Institute, and a member of the Advisory Council of the Institute of Economic Affairs. He is the author of several books, including General Equilibrium Economics (1975), The Political Economy of Growth (1983), and The End of Macro-Economics (1994). He has also contributed articles to periodicals ranging from Econometrica and Scientific American to The Spectator and the Financial Times.

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