Non-equilibrium economics

Non-equilibrium economics understands economic processes as non-equilibrium phenomena, as opposed to indications neoclassical equilibrium economics. This approach is consistent with our understanding of life processes as non-equilibrium phenomena. it is represented by advanced researchers in a fields of evolutionary-institutional economics, Post Keynesian economics, Ecological Economics, development and growth economics. The early contributions to this concepts were delivered by Thorstein Veblen, Gunnar Myrdal, Karl William Kapp together with Nicholas Kaldor. many contributions score been shown to this field in recent years, such(a) as "The Foundations of Non-Equilibrium Economics: The Principle of Circular Cumulative Causation" 2009, Routledge.

Related fields of economics increase Complexity economics as alive as Evolutionary economics.