The Impossibility of an Effective Theory of Policy in a Complex Economy

Velupillai, K. Vela (2005) The Impossibility of an Effective Theory of Policy in a Complex Economy. UNSPECIFIED. (Unpublished)

[img]
Preview
 PDF
Download (265Kb) | Preview

    Abstract

    It is shown that for a 'complex economy', characterised in terms of a formal dynamical system capable of computation universality, it is impossible to devise an effective theory of policy.

    Item Type: Departmental Technical Report
    Department or Research center: Economics
    Subjects: H Social Sciences > HB Economic Theory
    Uncontrolled Keywords: Theory of Policy, Dynamical System, Computation Universality, Recursive Rule, Complex Economy
    Additional Information: JEL Classi cation Codes: C60, E60, E61, E69
    Report Number: 14
    Repository staff approval on: 07 Dec 2005

    Actions (login required)

    		 View Item