It looks that problems with economics are much deeper than just
application of any specific system of control, allthough it sounds
reasonable to aply VSM as a certain approximation of dynamics of economic
By the way, it was Oskar Lange who first applied ideas from cybernetics in
economics. Later, it was not continued.
The core issue in modern economics and finance lies deeper. When we study
history of economic thought we can see how a MUTUAL impact of physics and
economic thinking was dominating the origins of economics.
Economics as a science was built upon some analogies and metaphors taken
from physics - theoretical mechanics and later, thermodynamics.
At present a question is arising whether those early ideas, e.g.
equilibrium are still relevant.
Cybernetics/systems thinking/complexity studies, whatever we may call it,
can probably help in search for new "central metaphors" of modern
economics. Perhaps we have to introduce "emerging properties" as
replacement for stability and equilibrium.
At present I am doing other things but perhaps sometimes in the future I
could present something on the topic systems thinking and central
metaphors of classical economic thought.
For those who would like to see the depth of the poblem, I recommend three
books by Robert Mirowski. Just search for the author and you will find
In all discussions between economics and non-economists, I always recomemd
those books as the beginning for in-depth understanding of the challenges
of modern economics and understanding whether other disciplines, e.g.
cybernetics, etc. can help.
Best regards, Czeslaw Mesjasz
Assoc. Prof. dr hab. Czesław Mesjasz
Cracow University of Economics
ul. Rakowicka 27
Tel: +48-12-293-56-19; Fax: +48-12-293-50-67
e-mail: [log in to unmask]
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