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Cybernetics of large social systems: The example of economics

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  • Tatiana A. Medvedeva
  • Stuart A. Umpleby

Abstract

When attempting to manage a large social system, it is necessary to have an overview of how the society functions and how economic theories describe this functioning. Recent discussions of higher orders of cybernetics are helping to define a multi‐disciplinary, multi‐level point of view. Knowledge from several disciplines is needed—systems science, management, engineering, cognitive studies and the various social science disciplines all have contributions to make. In this paper, we apply cybernetic ideas to further develop economic theories. The paper also uses economics to illustrate ideas in cybernetics. Similar thinking can be applied to other disciplines thus advancing the unification of science. The paper illustrates a transdisciplinary approach to knowledge development. The implications of the paper are improved understanding among scholars from several disciplines. The intent is to expand the range of conceptual possibilities available for problem‐solving.

Suggested Citation

  • Tatiana A. Medvedeva & Stuart A. Umpleby, 2024. "Cybernetics of large social systems: The example of economics," Systems Research and Behavioral Science, Wiley Blackwell, vol. 41(3), pages 524-533, May.
    • Handle: RePEc:bla:srbeha:v:41:y:2024:i:3:p:524-533
    DOI: 10.1002/sres.2991
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    References listed on IDEAS

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    1. John Williamson, 2004. "The strange history of the Washington consensus," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(2), pages 195-206.
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