ЕКОНОМІЧНА КІБЕРНЕТИКА

Abstract

This paper begins with a consideration of the work of Leijonhufvud, who, in the 1960’s, introduced what he termed “cybernetics” to correct many of the perceived weaknesses in macroeconomic theory. The authors use current advances in systems thinking to develop their own definition of Cybernetics and provide an example to illustrate how this definition of cybernetics can produce meaningful economic questions. The paper concludes with a synthesis of economic and cybernetic ideas which is termed “Economic Cybernetics”. This term is common in the former Soviet countries but is unfamiliar to western audiences.