The Rediscovery of Classical Economics - 9781781951965

The Rediscovery of Classical EconomicsAdaptation, Complexity and Growth\nAuthor(s): David Simpson\nFormat: Hardback\nPublisher: Edward Elgar Publishing Ltd, United Kingdom\nImprint: Edward Elgar Publishing Ltd\nISBN-13: 9781781951965, 978-1781951965\nSynopsis\nDavid Simpson skilfully argues that a market economy can be best understood as a human complex system, a perspective that represents a continuation of the classical tradition in economic thought. In the classical tradition, growth rather than allocative efficiency is the principal object of enquiry, economic phenomena are recognised to be elements of processes rather than structures, and change is [url] book shows the common principles that connect the early classical school, the Austrian school and complexity theory in a single line of thought. It goes on to show how these principles can be applied to explain the characteristic features of a market economy - namely incessant change, growth, the business cycle and the market pr.