 Inertia in Assessing the Possibilities of Economic Development: Limits in Modelling EconomiesMarek Rozycki A chapter in Sustainable Management Practices from IntechOpen Abstract: We cannot transcend our world, our history and time to see ourselves from a broad enough perspective, and so our reasoning is limited by our being in the world. It is easy to draw conclusions a posteriori, analyse historical events and assume that our ancestors were, or should have been, aware of connections which we observe in hindsight. We also find it easy to interpret current affairs, label them and draw conclusions about their future development in accordance with the current theories and our zeitgeist. We are wrong to do so in both situations. Human perception is subject to the laws of inertia. Without realising inertia's immense influence, we will create models of the world which are distant from reality and short-lived. Players in (what appears to be) the information economy want us to believe that endless progress is possible. States and economic agencies behave as if this were given and no other possibility should be worth serious consideration. Every business and every country present prognoses showing ever-increasing indicators. We want everything to grow: the GDP, our profit margins and sales. Human population continues to grow as well, globally, but is progress the indicator of human population? Is development our destiny? Keywords: economic development; limitations; crisis; risk; results (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:ito:pchaps:194545 Access Statistics for this chapter More chapters in Chapters from IntechOpen |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.