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Economic Structures and Dynamics: A Morphogenetic View

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  • Venkatachalam, Ragupathy
  • Kumar, Sunil Mitra

Abstract

Economic systems are characterised by constant change and evolution, and explanations concerning the properties of economic structures have received sustained interest. The structure of a system and its dynamics can influence each other through feedback effects. In this paper we offer a brief survey of how structure plays a role in dynamic economic theory – in particular, growth and business cycles. We propose a morphogenetic framework, inspired from the creation of forms in developmental biology, as a potential unifying approach for studying economic structures and their dynamics. We synthesise insights from three different strands of research, focusing on the role of coupling, diffusion and symmetry-breaking. We highlight their existing and prospective links with economics.

Suggested Citation

  • Venkatachalam, Ragupathy & Kumar, Sunil Mitra, 2022. "Economic Structures and Dynamics: A Morphogenetic View," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 474-485.
    • Handle: RePEc:eee:streco:v:61:y:2022:i:c:p:474-485
    DOI: 10.1016/j.strueco.2021.02.003
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