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• The question of the efficiency of financial transactions: the German example

  13-24

  Istvan Musto

  Views:

  103

  Egy többdimenziós célrendszerben a hatékonyság a különböző komplementáris vagy konkuráló célok
  függvényében határozható meg. A német újraegyesülés gazdasági következményeinek példája azt mutatja,
  hogy a keleti tartományoknak juttatott masszív pénzügyi transzferek politikai szempontból elkerülhetetlenek
  voltak ugyan, hosszabb távon azonban jelentősen gyengítették az össznémet gazdaság teljesítőképességét.

• Development economics - development policies: Some remarks on concepts, applications and fallacies

  46-58

  Istvan Musto

  Views:

  149

  This is a brief summary of the development theories and policies of the last 5 decades. The neoclassic economic approach, dependency paradigm and the contemporary "post-modern" concepts and strategies are analyzed and commented with reference being made to the respective problems and fallacies. Development, so the conclusion, is a self-regulating process in complex open and dynamic socioeconomic systems that are not susceptible to planning but which are progressively improving their ability to manage their increasing complexity and the mechanisms to adjust to changing circumstances.

• Quantophrenia? – Some remarks on the possibilities and constraints of mathematical formalization in economic and social sciences

  5-18

  Istvan Musto

  Views:

  127

  This article deals with some aspects of the constraints to the formal mathematization of economic theories and models. It points out that complex, dynamic and open systems dispose of a memory so that past events, statements or beliefs, even if they have turned out to be wrong or untrue, exert a potentially significant influence on the present state of issues, so they cannot be completely substracted from models representing reality. Reference is also made to the fact that in such complex, evolutionary systems strong interdependences and interactions exist between the subject and the object of scientific inquiry since economic actors strongly influence each other and, consequently, aggregate reality through their mutual actions and expectations. Furthermore, it is argued that the comparability of findings is highly dependent on the identity or dissimilarity of the initial conditions of the objects of economic research. The article does not take a position either for or against mathematical modelling; it limits itself to comments on some of the conditions of meaningful formalization.

  JEL classification: A1, B10, B41, C10