Description

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Tags: Economics, Self-Organization / Compelxity, Lang:en

Summary

This book tells us who we are, what we are doing and where we are going from an economic perspective.

Economic Reality

Since the inception of the industrial revolution, the dazzling complexity of economic phenomena have been fascinating and puzzling many people for years. Markets rise and fall. Fantastic economic growth is often followed by a devastating recession. Oddly enough, order leads to chaos. The market economy seems to have its own rhythm. It is the rhythm of prosperity. It is the rhythm of chaos.

The 17th century speculative frenzy in tulip bulbs propelled the spectacular economic growth. When the tulip bubble burst, so many dreams were destroyed. After nearly a decade of prosperity, the Great Depression struck, causing immense economic destruction. In the mid-1980s, real estate and stock prices in Japan skyrocketed. Then the market crashed, throwing the economy into a decade-long stagnation, known as the Lost Decades.

Not long ago, the Financial Crisis 2008 shocked the world. We all witnessed the scenes of devastation that the financial tsunami left behind. Most recently, the looming debt crisis in Europe and the high unemployment rate in the U.S. cast shadow over future growth.

Fundamental Questions

As the European sovereign debt crisis is lingering and the world economic growth is slowing down, many of us try to make sense out of this complex, seemingly chaotic reality, raising some fundamental questions:

• What is the true nature of the market economy?
• Which force fundamentally drives the motion of the market economy: endogenous economic dynamics or human rationality and some exogenous factors?
• Is there a unified economic theory that integrates major schools of economic thought into a coherent whole?
• What is really the root cause of the Financial Crisis 2008?
• What is the future of the market economy?

So far, these questions either largely remain unanswered or are answered unsatisfactorily. This book attempts to answer these questions and beyond. Given the depth and the magnitude of these questions, economics has been largely rewritten from an unorthodox perspective. Hopefully, the book would call for a profound rethinking of mainstream economics, promote a collaborative research on economic forecasting, and eventually benefit economic development in the world.

What Is Eco-Dynamic-Evolutionary Economics?

The eco-dynamic-evolutionary economics described in this book is a new, distinctive and unified economic synthesis. It is the interdisciplinary study that combines traditional economics, evolution theory, ecology and mathematics to form a coherent whole. It perceives and analyzes economic phenomena from an unconventional perspective, that is, human nature, so as to deepen our fundamental understanding of the nature of the market economy. More importantly, it studies economic dynamics by developing a mathematical framework for building a set of nonlinear dynamic models. These models may be used to simulate complex economic systems at both microeconomic and macroeconomic level.

Despite the unorthodox approach, this economic synthesis is supposed to be a unified economic theory. Theoretically, it does not reject mainstream economics. Instead, it attempts to integrate the mainstream economics, particularly Adam Smith’s free market economy, Keynesian economics as well as the law of demand and the law of supply, into this economic synthesis to form a coherent whole.

The Basic Structure of the Book

This book has two volumes. Volume I basically deals with general concepts and principles regarding the nature of the market economy. Volume II primarily focus on the principles of economic dynamics, dynamic models and their application.

Volume I http://www.amazon.com/dp/B005OK4XJ0
Volume II http://www.amazon.com/dp/B006EE96PQ

For more information about the book, please visit http://cosmice.ueuo.com/

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