How Could Cognitive Revolution Happen To Economics? An Introduction to the Algorithm Framework Theory

Li, Bin (2019): How Could Cognitive Revolution Happen To Economics? An Introduction to the Algorithm Framework Theory.

Abstract

This paper introduces a highly original theory. What is human capital or knowledge theoretically? How do innovations happen? How could microeconomics integrate with macroeconomics? Where do institutions & organizations come from? How to define and endogenize money? How to synthesize irrationalities into rationalities? How to coordinate dynamics with statics (or equilibria)? Etc. All of the answers lie in the principles of computer science, which are interpreted in a distinct way transcendentally in this paper, and then reformed into a concise theory on how a person thinks. This is called the Algorithm Framework Theory, which implies the method of roundabout production of thoughts, consisting of the factors of dualism, time or speed, flows and stocks, etc. Reasoned economically, the theory surprisingly leads to pluralism, conflicts, subjectivities, irrationalities, innovations, developments, the Combinatorial Explosions and eventually an embracive paradigm of the society. This means that a unified social science and a unified economics takes shape. Also methodological synthesis is included briefly.

• Item Type: MPRA Paper
• Language: English
• Keywords: Bounded Rationality; Instructions; Algorithm; Combinatorial Explosion; Subjectivity; Mental Distortion
• Subjects: A - General Economics and Teaching > A1 - General Economics > A10 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General > B00 - General; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63 - Computational Techniques ; Simulation Modeling; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z10 - General

References

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