THE CRISIS IN THE ECONOMIC SYSTEMS IN TERMS OF THE CHAOS THEORY

Roxana Dumitrascu () and Vadim Dumitraşcu
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Vadim Dumitraşcu: "Petre Andrei" University of Iaşi

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 535-542

Abstract: The crisis begins when one or several variables of the economic system tend to move towards the borders of the "safety beach"; their behavior becomes unstable and abnormal, in other words, it becomes chaotic. The intensity of the installation of this abnormality increases and at some point becomes so great that manages to destabilize the entire economic system. On the basis of the system-business model we'll see how a rapid increase in sales can lead, after a period of time, to negative trends of other variables, causing eventually a descending trajectory (downward path) of the cash-flow and also a dangerous proliferation of various economic and financial risks.

Keywords: attractor; feedback; dependence on initial conditions; feedback error; phase space. (search for similar items in EconPapers)
Date: 2009
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