Non-equilibrium economics
Encyclopedia
Non-equilibrium economics deals with processes that exhibit self-reinforcing causation, as opposed to standard neoclassical equilibrium economics. This approach is represented by modern researchers in the fields of evolutionary-institutional economics, Post Keynesian economics, Ecological Economics, development and growth economics. The early contributions to this theory were made by T.B. Veblen, Gunnar Myrdal
Gunnar Myrdal
Karl Gunnar Myrdal was a Swedish Nobel Laureate economist, sociologist, and politician. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the...

, Karl William Kapp
Karl William Kapp
Karl William Kapp was a German-American economist, one of the founders of Ecological economics and one of the leading 20th century institutional economists...

 and Nicholas Kaldor
Nicholas Kaldor
Nicholas Kaldor, Baron Kaldor was one of the foremost Cambridge economists in the post-war period...

. Many contributions have been made to this field in recent years, such as "The Foundations of Non-Equilibrium Economics: The Principle of Circular Cumulative Causation" (2009), Routledge.

Related fields of economics include Complexity economics
Complexity economics
Complexity economics is the application of complexity science to the problems of economics. It studies computer simulations to gain insight into economic dynamics, and avoids the assumption that the economy is a system in equilibrium.- Models :...

 and Evolutionary economics
Evolutionary economics
Evolutionary economics is part of mainstream economics as well as heterodox school of economic thought that is inspired by evolutionary biology...

.
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