The impossibility of an Effective Theory of Policy in a Complex Economy
It is shown that for a `complex economy', characterised in terms of a formal dynamical system capable of computation universality, it is impossible to devise an effective theory of policy.
|Date of creation:||2005|
|Date of revision:||2005|
|Contact details of provider:|| Postal: |
Phone: +353-91 524411 ext. 2501
Fax: +353-91 524130
Web page: http://economics.nuigalway.ie
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- D. Colander., 2009.
"The Complexity Revolution and the Future of Economics,"
N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
- David Colander, 2003. "The Complexity Revolution and the Future of Economics," Middlebury College Working Paper Series 0319, Middlebury College, Department of Economics.
- S. Illeris & G. Akehurst, 2002. "Introduction," The Service Industries Journal, Taylor & Francis Journals, vol. 22(1), pages 1-3, January.
- W. Fontana & L.W. Buss, 1996. "The Barrier of Objects: From Dynamical Systems to Bounded Organizations," Working Papers wp96027, International Institute for Applied Systems Analysis.
- Sonnenschein, Hugo, 1972. "Market Excess Demand Functions," Econometrica, Econometric Society, vol. 40(3), pages 549-63, May.
- Finn Kydland & Edward C. Prescott, 1980. "A Competitive Theory of Fluctuations and the Feasibility and Desirability of Stabilization Policy," NBER Chapters, in: Rational Expectations and Economic Policy, pages 169-198 National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:nig:wpaper:0094. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Srinivas Raghavendra)
If references are entirely missing, you can add them using this form.