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Non-linear Dynamics versus Development Processes: Two Kinds of Change

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  • Khalil, Elias L

Abstract

This paper shows that nonlinear dynamics is fitting only for the study of one kind of change, viz., fluctuations ranging from business cycles to geographical bifurcations of core and periphery. Nonlinear dynamics is inappropriate for the analysis of another kind of change, viz., technological and institutional development. Many economists confuse the two. The distinction between them should establish that evolutionary economics is not an alternative to neoclassical economics. Copyright 1996 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Khalil, Elias L, 1996. "Non-linear Dynamics versus Development Processes: Two Kinds of Change," The Manchester School of Economic & Social Studies, University of Manchester, vol. 64(3), pages 309-322, September.
  • Handle: RePEc:bla:manch2:v:64:y:1996:i:3:p:309-22
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    Cited by:

    1. Charles Heckscher & John McCarthy, 2014. "Transient Solidarities: Commitment and Collective Action in Post-Industrial Societies," British Journal of Industrial Relations, London School of Economics, vol. 52(4), pages 627-657, December.
    2. Elias Khalil, 2000. "Survival of the Most Foolish of Fools: The Limits of Evolutionary Selection Theory," Journal of Bioeconomics, Springer, vol. 2(3), pages 203-220, October.
    3. Khalil, Elias L., 1998. "The five careers of the biological metaphor in economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 27(1), pages 29-52.

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