UNIFIED COMPLEX-DYNAMICAL THEORY OF FINANCIAL, ECONOMIC, AND SOCIAL RISKS AND THEIR EFFICIENT MANAGEMENT: REASON-BASED GOVERNANCE FOR SUSTAINABLE DEVELOPMENT

Andrei P. Kirilyuk ()
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Andrei P. Kirilyuk: Metallic State Theory Department - IMP-NASU - Institute of Metal Physics of the National Academy of Sciences of Ukraine [G. V. Kurdyumov Institute for Metal Physics] = Інститут металофізики ім. Г. В. Курдюмова НАН України (Киев, Украине) - NASU / НАН України - National Academy of Sciences of Ukraine = Національна академія наук України = Académie nationale des sciences d'Ukraine

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Abstract: An extended analysis compared to observations shows that modern "globalised" world civilisation has passed through the invisible "complexity threshold" , after which usual "spontaneous" , empirically driven kind of development ("invisible hand" etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) risk characterising real complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice.

Date: 2017-12-07
New Economics Papers: this item is included in nep-env and nep-knm
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Published in Theory of Everything, Ultimate Reality and the End of Humanity: Extended Sustainability by the Universal Science of Complexity, LAP LAMBERT Academic Publishing, Section 8.4, pp. 194-199, 2017, 978-3-659-31673-9

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