The impossibility of an Effective Theory of Policy in a Complex Economy
Recommended Citation
Velupillai, K.V., (2005) "The impossibility of an Effective Theory of Policy in a Complex Economy" (Working Paper No. 0094) Department of Economics, National University of Ireland, Galway.
Abstract
It is shown that for a 'complex economy', characterised in terms of a formal dynamical system capable of computation universality, it is impossible to devise an effective theory of policy.
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