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Observations on Computability, Uncertainty, and Technology

In: Keynesian, Sraffian, Computable and Dynamic Economics

Author

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  • J. Barkley Rosser

    (James Madison University)

Abstract

Inspired by the work of Stefano Zambelli on these topics, this chapter studies the complex nature of the relation between technology and computability. This involves reconsidering the role of computational complexity in economics and then applying this to a particular formulation of the nature of technology as conceived within the Sraffian framework. A crucial element of this is to expand the concept of technique clusters. This allows for understanding that the set of possible techniques is of a higher cardinality of infinity than that of the points on a wage-profit frontier. This is associated with potentially deep discontinuities in production functions and a higher form of uncertainty involved in technological change and growth.

Suggested Citation

  • J. Barkley Rosser, 2021. "Observations on Computability, Uncertainty, and Technology," Springer Books, in: Kumaraswamy Velupillai (ed.), Keynesian, Sraffian, Computable and Dynamic Economics, chapter 15, pages 349-365, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-58131-2_15
    DOI: 10.1007/978-3-030-58131-2_15
    as

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