The Economy as a Complex System of Economic Actions: In Search of a New Paradigm

Leiashvily, Paata (2022): The Economy as a Complex System of Economic Actions: In Search of a New Paradigm.

Abstract

Based on a dialectical analysis of purposeful activity, a decentralized economy is presented as a complex nonlinear living system of economic actions. In such an economy, the general laws of the universe, which dialectics and synergetics studies, manifest themselves in a specific form. This allows us to see many well-known economic phenomena in an unusual light and to discover in them what cannot be detected by standard methods of orthodox theory. The monograph presents a system of concepts, based on which the fundamentally new interpretation of how the market economy functions and how it has evolved from its inception to the present is given. It is shown that behind the external chaos of economic life hiding surprisingly ordered, symmetrical, deep structures that provide self-regulation of a competitive market economy. Like all living systems, the economy is developing, which results in the monopolization and financialization of the economy. But over time, it loses the ability to self-regulate. Regulation becomes necessary, because of which the role of centralization of the economy increases. The search for new methods of regulating such an economy becomes inevitable.

• Item Type: MPRA Paper
• Language: English
• Keywords: methodology, market self-regulation, economic value, pricing, business cycle, monopolization, financialization
• Subjects: A - General Economics and Teaching > A1 - General Economics; D - Microeconomics > D0 - General; E - Macroeconomics and Monetary Economics > E0 - General

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