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Economic Coordination and Dynamics: Some Elements of an Alternative “Evolutionary” Paradigm

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  • G. Dosi

Abstract

According to the latest forecasts, it will take 10 years for the world economy to get back to “decent shape”. Some more critical estimates suggest that the whole western world will have a “colossal mess” within the next 5–10 years. Regulators of some major countries significantly and over a short time‑period changed their forecasts for the worse which means that uncertainty in the outlook for the future persists. Indeed, the intensive anti‑crisis measures have reduced the severity of the past problems, however the problems themselves have not disappeared. Moreover, some of them have become more intense — the eurocrisis, excessive debts, global liquidity glut against the backdrop of its deficit in some of market segments. As was the case prior to the crisis, derivatives and high‑risk operations with “junk” bonds grow; budget problems — “fiscal cliff” in the US — and other problems worsen. All of the above forces the regulators to take unprecedented (in their scope and nature) steps. Will they be able to tackle the problems which emerge?

Suggested Citation

  • G. Dosi, 2012. "Economic Coordination and Dynamics: Some Elements of an Alternative “Evolutionary” Paradigm," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 12.
    • Handle: RePEc:nos:voprec:y:2012:id:487
    DOI: 10.32609/0042-8736-2012-12-31-60
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    Cited by:

    1. George B. Kleiner, 2023. "The methodology of A. Bogdanov's tektology in the context of modern systems economic theory," Systems Research and Behavioral Science, Wiley Blackwell, vol. 40(2), pages 393-406, March.

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