Abstract

RAMIREZ SANCHEZ, José Carlos  and  GARCIA DE LA SIENRA, Adolfo. The complicated pairing between dynamic systems techniques and economics. Inv. Econ [online]. 2020, vol.79, n.314, pp.28-50.  Epub Jan 29, 2021. ISSN 0185-1667.  https://doi.org/10.22201/fe.01851667p.2020.314.76042.

This paper aims to analyze the impact of the dynamic systems techniques (DST) on the recent development of neoclassical Economics. Through the use of a classification of research papers and two models, we study how mainstream economists translate concepts into dynamic formats. The main conclusions are: (i) DST have expanded knowledge in Economics by revealing new types of equilibria and tightening interrelationships among sub-disciplines; (ii) despite this undeniable success, some economists criticize how assumptions and concepts are reduced to technical expressions to ease their mathematical adaptation; and (iii) there is no neutral method to build dynamic models.

Keywords : Mathematization; non-traditional dynamic equilibria; the realism of assumptions; mathematical reductionism; Malthusian dynamics.

        · abstract in Spanish     · text in English     · English ( pdf )