Economic Structures and Dynamics: A Morphogenetic View

Ragupathy Venkatachalam; Sunil Mitra Kumar

doi:10.1016/j.strueco.2021.02.003

Economic Structures and Dynamics: A Morphogenetic View

Ragupathy Venkatachalam^*, Sunil Mitra Kumar

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

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.

Original language	English
Journal	Structural Change and Economic Dynamics
DOIs	https://doi.org/10.1016/j.strueco.2021.02.003
Publication status	Accepted/In press - 2021

Keywords

Economic dynamics
Morphogenesis
Structural Change
Symmetry-breaking
Turing instabilities

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10.1016/j.strueco.2021.02.003

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AB - 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.

KW - Economic dynamics

KW - Morphogenesis

KW - Structural Change

KW - Symmetry-breaking

KW - Turing instabilities

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SN - 0954-349X

JO - Structural Change and Economic Dynamics

JF - Structural Change and Economic Dynamics

ER -

Economic Structures and Dynamics: A Morphogenetic View

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Keywords

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