Turbulence in Economics: An Evolutionary Appraisal of Cycles and Complexity in Historical Processes

Hardcover (Print)
Buy New
Buy New from BN.com
Used and New from Other Sellers
Used and New from Other Sellers
from $59.95
Usually ships in 1-2 business days
(Save 65%)
Other sellers (Hardcover)
  • All (4) from $59.95   
  • New (2) from $161.90   
  • Used (2) from $59.95   

Editorial Reviews

A critique of mainstream econometrics, presenting the economy as an evolutionary process, economics as a realistic science, and history as fundamental to understanding economic processes. Examines cycles and fluctuations in economic history from the point of view of the metaphor of turbulence in the physical sciences, and argues that an evolutionary approach is required for understanding historical economic processes. Compares the ideas of Keynes and Schumpeter to those of Frisch and Wicksell, and examines recent studies of chaos, nonlinearity, and complexity to explain the historical development of modern economics. Of interest to those involved in economics, history, chaos theory, and modern methodology. Annotation c. by Book News, Inc., Portland, Or.
Read More Show Less

Product Details

  • ISBN-13: 9781858985633
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 8/1/1997
  • Pages: 383

Table of Contents

List of figures
List of tables
Pt. 1 The Evolutionary Metaphors in the Reconstruction of Economics
1 Introduction to Part One: Simplicity or Complexity 3
2 The Impasse of Positivism 5
3 Heirs of Positivism 28
4 The Economy of Metaphoric Innovation 49
5 Time for Evolution 76
6 Conclusion of Part One: Pertinent Impertinence 101
Pt. 2 The Rocking Horse
7 Introduction to Part Two: Simplicity from Complexity 117
8 The Rocking Horse: The Propagation-Impulse Metaphor for Business Cycle Theories 120
9 Premises and Implications of the Double Decomposition 139
10 New Criteria for the Classification of Theories: An Intermediate Balance Sheet 171
11 Conclusion of Part Two: Moving Away from the Perpetuum Mobile 192
Pt. 3 Bounded Heresies
12 Introduction to Part Three: Disputed Interpretations 219
13 Schumpeter's Paradox 222
14 From Evolution to Evolutionism 229
15 From Bloomsbury to Cambridge and to Harvard 247
16 Conclusion of Part Three: Split Heritage 268
Pt. 4 Dr. Pangloss Hunted by the Snarks
17 Introduction to Part Four: Turbulence Again 283
18 Uneasy Feelings 286
19 Order Out of Disorder 294
20 The Crucial Dependency of the Answers on the Questions 302
21 The Aggregative Effects of Aggregation in Economic Time Series 311
22 The Problem of Heteroscedasticity 317
23 Reconsiderations on the Rocking Horse: The Vanishing Property of the Errors 321
24 Conclusion of Part Four: The Snark was a Boojum 328
Conclusion: Complexity, the Condition of the World
25 The Complex under the Simple 339
References 359
Index 381
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)