Advanced Search
MyIDEAS: Login

Building systems

Contents:

Author Info

  • Brian Loasby

    ()

Abstract

A system is a set of elements which are connected in particular ways. The formal general equilibrium model is an extreme case in which every element is directly connected to every other and in which all potential external connections, including connections from the future, are incorporated in the data. The foundational assumption of this paper is that viable systems must be selectively connected, and that viable large systems are highly-decomposable assemblies of smaller systems. As Simon argued, quasi-decomposability has made evolution possible from the beginning of the universe. Economies are evolutionary systems, in which human intentionality is a novel feature which modifies but does not supersede the processes of novelty generation, selection and diffusion. The microfoundations for this study are found in the characteristics of the human brain as a system of selective connections. Human knowledge consists of domain-limited patterns imposed on events. Organization—selective connections—is thus basic; but the potential for human knowledge is greatly enhanced by specialisation between domains, combined with variation within each. Co-ordination and development, so often separated in economic theory, are interconnected; they are both ordered processes—not states, in which markets (alongside many other institutions) are prime sources of order. Copyright Springer-Verlag 2012

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://hdl.handle.net/10.1007/s00191-012-0288-y
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 22 (2012)
Issue (Month): 4 (September)
Pages: 833-846

as in new window
Handle: RePEc:spr:joevec:v:22:y:2012:i:4:p:833-846

Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00191/index.htm

Order Information:
Web: http://link.springer.de/orders.htm

Related research

Keywords: Evolution; Decomposability; Process; Order; B52; D83; L26; O12; O31;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Richardson, G B, 1972. "The Organisation of Industry," Economic Journal, Royal Economic Society, vol. 82(327), pages 883-96, September.
  2. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:spr:joevec:v:22:y:2012:i:4:p:833-846. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.