Rethinking Economic Behaviour

How the Economy Really Works

By: D. Simpson

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Hardcover | 29 September 2000 | Edition Number 1

At a Glance

Hardcover
248 Pages

Dimensions(cm)
22.23 x 14.61 x 2.54

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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.

Industry Reviews

'Professor David Simpson has launched the most authoritative assult so far on mainstream economic thinking and the neoclassical equilibrium theory that underlies it.' - Lord David Howell, Daily Telegraph

'David Simpson has written a very important book. In his usual clear and incisive style he demolished the idea that economy is like a machine and he sets out a new paradigm. In place of the machine there is an evolving interactive system where entrepreneurship and institutions play central roles. His ideas are timely because his view of economics is consistent with the new information economy about which new-classical equilibrium analysis has little useful to say.' - Professor Colin Robinson, Editorial Director, Institute of Economic Afffairs

'a highly readable book...Simpson has had long experience of communicating with the business world.' - Samuel Brittan, Financial Times

'Simpson's work comes as something of a shock to those who believe economics to be about planning and regulation control based on the outpourings of computer forecasting models. As a counter to this warm delusion, his highly readable and provocative book is a necessary shock of iced water.' - Bill Jamieson, The Scotsman

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Introduction
The Economy as a Machine
The Pretence of Knowledge
Economics and Politics
Economics and Business
From Mechanical to Biological Analogies
The Economy as a Human Complex Adaptive System
The Co-Ordination of Economic Activity
The Evolution of Economic Institutions
The Lessons of History
Patterns in Economic Activity
Adaptation in the Market Economy
Implications for Economics
Implications for Business and Government
The Future of the Market Economy
Table of Contents provided by Publisher. All Rights Reserved.

Rethinking Economic Behaviour

How the Economy Really Works

At a Glance

Hardcover

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

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