Detail výsledku
Specifika teoretické ekonomie 21. století
The paper gives an account of a recent attempt to rebuild economics along the lines of increasing
returns. The current orthodoxy is criticized for overemphasizing the role of decreasing returns. Under
decreasing returns, exogenous shocks are easily absorbed by the system and economists equipped
with sophisticated tools are able to predict the result. For the nowadays economists try to make.
The paper gives an account of a recent attempt to rebuild economics along the lines of increasing
returns. The current orthodoxy is criticized for overemphasizing the role of decreasing returns. Under
decreasing returns, exogenous shocks are easily absorbed by the system and economists equipped
with sophisticated tools are able to predict the result. For the nowadays economists try to make
correct picture of the modern world which is largely dominated by increasing returns. It is a typical, that
mall events, however unimportant they may seem, are magnified by the positive feedback. The system
is thus set on a path and cannot shake off its history. This casts serious doubts upon the ability of
market forces to reach efficient solutions, as well as upon the laissez-faire policy recommendations.
economics
@inproceedings{BUT25914,
author="Tomáš {Meluzín} and Jiří {Luňáček}",
title="Specifika teoretické ekonomie 21. století",
booktitle="FESTIVE SCIENTIFIC CONFERENCE ON THE OCCASION OF 15TH ANNIVERSARY OF THE ESTABLISHMENT OF FACULTY OF BUSINESS AND MANAGEMENT BRNO UNIVERSITY OF TECHNOLOGY",
year="2007",
series="1",
number="1",
pages="1--8",
publisher="FP VUT v Brně",
address="Brno",
isbn="978-80-214-3482-0"
}