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Cybernetics in Economics

Author

Listed:
  • Kyn, Oldrich
  • Pelikan, Pavel

Abstract

In 1965 Kyn and Pelikan published in Czechoslovakia the book “Kybernetika v Ekonomii” (Cybernetics in Economics). This article, which was published in Prague in English gives the summary and discusses some more important ideas of that book. The book was quite successful and influenced significantly the way economists were at that time looking at the centrally planned economic system imported from the Soviet Union. The main ideas were: a) the crucial role of information in coordination of economic activities; b) the requirements of the appropriate decision making rules; c) the refutation of the prevailing negative views of randomness and spontaneity; d) the role of “natural selection” for processes of self-organization in economic systems. This provided an implicit critique of the over-centralized command economy and indicated the necessity to revive the market economy.

Suggested Citation

  • Kyn, Oldrich & Pelikan, Pavel, 1965. "Cybernetics in Economics," MPRA Paper 88, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:88
    as

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    File URL: https://mpra.ub.uni-muenchen.de/88/1/MPRA_paper_88.pdf
    File Function: original version
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    More about this item

    Keywords

    Economic Cybernetics; Information; Decission-making; Planning; Selforganization;
    All these keywords.

    JEL classification:

    • P29 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Other
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform

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