Economic Evolution and Structure
The Impact of Complexity on the U.S. Economic System

Pryor follows the theme of structural complexity through many different subdisciplines of economics to show how the US economy has evolved.

Frederic L. Pryor (Author)

9780521559249, Cambridge University Press

Paperback, published 24 November 1995

416 pages, 2 b/w illus.
22.9 x 15.2 x 2.4 cm, 0.61 kg

"This book represents an intriguing attempt by the author to document how growing economic complexity has affected and will affect the United States economy....This is an ambitious work..." John Willoughby, Journal of Economic Interest

In this book, Frederic L. Pryor uses the concept of structural complexity to show how changes in the population, the labour force, the structure of industry, the financial system, foreign and domestic trade, and the government sector are related to the same general trend in the US economic system. He also investigates the impact of these changes on the functioning of the system, exploring such matters as the long-term rising unemployment rate, the allegedly increasing volatility of the economy, the changing degree of competition, and the evolving economic role of the government. The discussion is aimed at those who wish to view the economy as a whole and who are concerned with problems of understanding an economy that is becoming increasingly complex along many different dimensions. For specialists a number of appendices discuss a variety of technical issues.

1. Complexity and the economy
2. Population
3. Labour force: complexity and unemployment
4. Labour force: changes in sectors and organization
5. Wealth, ownership and the financial structure
6. Production institutions
7. The behaviour of markets
8. The foreign trade sector
9. The government sector
10. The future of US capitalism
Appendices.

Subject Areas: Economic theory & philosophy [KCA]