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Economic evolution and the science of synergetics

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  • John Foster

    (Department of Economics, University of Queensland, Brisbane, Queensland 4072, Australia)

  • Phillip Wild

    (Department of Economics, University of Queensland, Brisbane, Queensland 4072, Australia)

Abstract

This paper deals with synergetic methods, which have developed as a sub-field of the self-organisation approach in the natural sciences. Such methods have been used successfully to model structural transitions in physio-chemical contexts. The synergetic approach is explained in a non-technical way and the main elements of the synergetic methodology are introduced. The extent to which such methods can be applied in the presence of historical time series data, which are subject to underlying processes of evolutionary economic change, is assessed. Proposals, concerning more appropriate synergetic methods for evolutionary economic application, are considered.

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Bibliographic Info

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

Volume (Year): 6 (1996)
Issue (Month): 3 ()
Pages: 239-260

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Handle: RePEc:spr:joevec:v:6:y:1996:i:3:p:239-260

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Related research

Keywords: Synergetics ; Self-organisation ; Time-irreversibility ; Evolution ; Structural change;

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Cited by:
  1. Foster, John, 1997. "The analytical foundations of evolutionary economics: From biological analogy to economic self-organization," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 427-451, October.
  2. Sylvie Geisendorf, 2009. "The economic concept of evolution: self-organization or Universal Darwinism?," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(4), pages 377-391.
  3. Jason Potts & John Foster & Anna Straton, 2010. "An entrepreneurial model of economic and environmental co-evolution," Discussion Papers Series 409, School of Economics, University of Queensland, Australia.

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