 TO THE WAVE NATURE OF ECONOMIC CYCLESDmitry Chistilin ()
Romanian Journal of Economics, 2008, vol. 27, issue 2(36), 63-78 Abstract: The question of economic cycles’ origin is still one of the most actual problems. In inorganic nature the wave process appears as a form of system’s existence and as reaction of environment against outside disturbance. Socium as an environment, a separate element of which is a human being, possesses two basic characteristics. It is different values of capability of every separate human being, on one hand, and organization of scarce resources for production and level of consumption of limited benefits, on the other hand. These two characteristics create two opposite trends of production and consumption in condition of growth of population and scarceness of resources during long period of time. These two mentioned trends of opposite directions initiate stationary wave process, which economics defines as economic cycle. Therefore, the property of organic system to initiate wave processes under the influence of outside environment is a necessary condition for supporting dynamic stability of the system in the process of its development, i.e. supporting homeostasis. Keywords: economic cycle; non-linear economic dynamics; population growth; economic wave process (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:2:y:2008:i:36:p:63-78 Access Statistics for this article Romanian Journal of Economics is currently edited by Institute of National Economy More articles in Romanian Journal of Economics from Institute of National Economy Contact information at EDIRC. |
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