Economic Evolution and Structural Adjustment

The book contains a collection of papers presented at four special sessions of the 5th International Conference on Mathematical Modelling, held at the University of California, Berkeley in July 1985. The main theme of the volume is the application of dynamical systems theory and related mathematical approaches to fundamental problems of competitive behaviour, industrial restructuring and economic development. The volume assembles some recent advances in modelling which treat these economic problems from a dynamic viewpoint. Sections of the book are devoted to (1) competition and technological evolution, (2) industrial fluctuations and cycles, (3) accumulation and maintenance of capital, (4) location and spatial dynamics. Some of the contributions spring from ambitions to modify or reform basic elements of established economic theory. Approaches and concepts introduced in the models are inspired by the development of recent contributions in physics, chemistry and theoretical biology. However, the problems addressed are deeply rooted in economics with a particular focus on technological change, business cycles and economic development. The ideas of Joseph Schumpeter are a common source of inspiration for many of the authors. In the Schumpeterian spirit, all chapters are preoccupied with dynamic analysis of market economies and competition. The reader will find many new ideas and new models which may help to shape a new pathway for the theory of economic dynamics and related analyses.