Explain why complexity economics focuses on non-equilibrium analysis rather than equilibrium analysis.

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 26, 2024 02:01 AM

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Explain why complexity economics focuses on non-equilibrium analysis rather than equilibrium analysis.

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Complexity economics focuses on nonequilibrium analysis rather than equilibrium analysis for several reasons 1 Dynamic Systems Complexity economics recognizes that economies are dynamic complex system...View the full answer

Economics

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