Economic Structures and Dynamics: A Morphogenetic View

Ragupathy Venkatachalam and Sunil Mitra Kumar

Structural Change and Economic Dynamics, 2022, vol. 61, issue C, 474-485

Abstract: Economic systems are characterised by constant change and evolution, and explanations concerning the properties of economic structures have received sustained interest. The structure of a system and its dynamics can influence each other through feedback effects. In this paper we offer a brief survey of how structure plays a role in dynamic economic theory – in particular, growth and business cycles. We propose a morphogenetic framework, inspired from the creation of forms in developmental biology, as a potential unifying approach for studying economic structures and their dynamics. We synthesise insights from three different strands of research, focusing on the role of coupling, diffusion and symmetry-breaking. We highlight their existing and prospective links with economics.

Keywords: Economic dynamics; Morphogenesis; Turing instabilities; Symmetry-breaking; Structural Change (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:61:y:2022:i:c:p:474-485

DOI: 10.1016/j.strueco.2021.02.003

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