{"product_id":"coping-with-the-complexity-of-economics-von-marisa-faggini-thomas-lux-hrsg","title":"Coping with the Complexity of Economics","description":"Throughout the history of economics, a variety of analytical tools have been borrowed from the so-called exact sciences. As Schoe?er (1955) puts it: “They have taken their mathematics and their ded- tive techniques from physics, their statistics from genetics and agr- omy, their systems of classi?cation from taxonomy and chemistry, their model-construction techniques from astronomy and mechanics, and their methods of analysis of the consequences of actions from en- neering”. The possibility of similarities of structure in mathematical models of economic and physical systems has been an important f- tor in the development of neoclassical theory. To treat the state of an economy as an equilibrium, analogous to the equilibrium of a mech- ical system has been a key concept in economics ever since it became a mathematically formalized science. Adopting a Newtonian paradigm neoclassical economics often is based on three fundamental concepts. Firstly, the representative agent who is a scale model of the whole society with extraordinary capacities, particularly concerning her - pability of information processing and computation. Of course, this is a problematic reduction as agents are both heterogeneous and bou- edly rational and limited in their cognitive capabilities. Secondly, it often con?ned itself to study systems in a state of equilibrium. But this concept is not adequate to describe and to support phenomena in perpetual motion.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9788847055698\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9788847010826\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9788847055698","offer_id":39449061195869,"sku":"9788847055698","price":99.98,"currency_code":"EUR","in_stock":true},{"title":"Hardcover - 9788847010826","offer_id":39629673136221,"sku":"9788847010826","price":106.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/e3788ff7-a40e-435e-909c-62778589a440.jpg?v=1759395865","url":"https:\/\/shop.autorenwelt.de\/products\/coping-with-the-complexity-of-economics-von-marisa-faggini-thomas-lux-hrsg","provider":"Autorenwelt Shop","version":"1.0","type":"link"}