TITLE:
Synergetics—Fundamental Attributes of the Theory of Self-Organization and Its Meaning for Economics
AUTHORS:
Andreas Liening
KEYWORDS:
Butterfly Effect, Complexity Sciences, Emergence, Market System, Phase Transition, Swarm Intelligence, Synergetics
JOURNAL NAME:
Modern Economy,
Vol.5 No.8,
July
14,
2014
ABSTRACT: The current article will focus
on the fundamental idea of synergetics. It addresses the question of how to
explain self-organization in a complex system. For this purpose synergetic will
be explained with the use of the classic physical example, the laser light.
Although the synergetic theory was developed in the field of physics, it is an
interdisciplinary approach enabling the general examination of
self-organization of complex systems, especially in economic contexts. The
so-called swarm intelligence contributes as a bright example from another
context. Furthermore, exemplifying for economic application a simple national
economy will be interpreted from the synergetic perspective. From an economic
perspective, finally the conclusion includes a critical reflection of the
approach.