Crash course in non equilibrium economics lecture 1a
Non-equilibrium economics understand economic processes as non-equilibrium phenomena, as opposed to standard neoclassical equilibrium economics. This approach is consistent with our understanding of life processes as non-equilibrium phenomena. It is represented by modern researchers in the fields of evolutionary-institutional economics, Post Keynesian economics, Ecological Economics, development and growth economics. The early contributions to this theory were made by T.B. Veblen, Gunnar Myrdal, Karl William Kapp and Nicholas Kaldor. Many contributions have been made to this field in recent years, such as "The Foundations of Non-Equilibrium Economics: The Principle of Circular Cumulative Causation" (2009), Routledge.
Contents
- Crash course in non equilibrium economics lecture 1a
- Crash course in non equilibrium economics lecture 1b
- References
Related fields of economics include Complexity economics and Evolutionary economics.