Money, Cycles and Complexity
Prof. Dr. G. T. Ganchev
South-West University, Blagoevgrad, Bulgaria
Please cite the paper as:
Prof. Dr. G. T. Ganchev, (2017), Money, Cycles and Complexity, World Economics Association (WEA) Conferences, No. 2 2017, Economic Philosophy, Complexities in Economics
The main idea of the present paper is that the appropriate inclusion of money and monetary circulation into economic analysis implies shift from acyclic to cyclic economic mathematical models. In the same tame such transition allows for the analysis of more complex economic instances, complexity being viewed in terms of computational complexity. Remarkably, the emergence and development of complex cyclical economic systems is actually possible only in the context of risk and uncertainty.