Non-linear Dynamics versus Development Processes: Two Kinds of Change

Elias Khalil ()

The Manchester School of Economic & Social Studies, 1996, vol. 64, issue 3, 309-22

Abstract: This paper shows that nonlinear dynamics is fitting only for the study of one kind of change, viz., fluctuations ranging from business cycles to geographical bifurcations of core and periphery. Nonlinear dynamics is inappropriate for the analysis of another kind of change, viz., technological and institutional development. Many economists confuse the two. The distinction between them should establish that evolutionary economics is not an alternative to neoclassical economics. Copyright 1996 by Blackwell Publishers Ltd and The Victoria University of Manchester

Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:bla:manch2:v:64:y:1996:i:3:p:309-22

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