Open AccessTHE FUTURE OF MACROECONOMICS: A CYBERNETIC VIEW
Author(s) -
Kevin Lawler,
T. Vlasova,
Alfredo Moscardini,
A. Alsariaan
Publication year - 2020
Publication title -
vìsnik. ekonomìka/vìsnik kiïvsʹkogo nacìonalʹnogo unìversitetu ìmenì tarasa ševčenka. serìâ ekonomìka
Language(s) - English
Resource type - Journals
eISSN - 2079-908X
pISSN - 1728-2667
DOI - 10.17721/1728-2667.2020/209-2/3
Subject(s) - cybernetics , dilemma , management science , computer science , economics , positive economics , engineering ethics , epistemology , engineering , artificial intelligence , philosophy
This paper outlines many weaknesses in macroeconomic theory today and suggests a way out of the dilemma is to use systems or cybernetic thinking. The paper uses a topical case study to illustrate the authors’ views of economics, cybernetics and mathematics. It concludes with recommendations for the future of economics in the 21st century.