Angelica, S., Emanuele P,. & Luciano, P. (2017). Economic Development and Wage Inequality: A complex system analysis. PLoS ONE 12(9): e0182774
This article particularly gives an analysis the characteristics of the multifaceted connection that exists in wage inequity as well as the development and industrialization of a given nation. It shows development as a combination of pecuniary index, gross domestic product per capita as well as the measure of the nation’s economic complexity. The article also examines at the pay inequity on a universal scale. The article presents the wage inequity beside with the continuing industrial creation of nations has taken a longitudinally constant pattern. Finally, the fitness complexity matrix has been summarized in this article using the two novel application of complex system analysis (Valentinov, & Chatalova, 2016).
John, F. (2017). From Simplistic to Complex Systems in Economics, Discussion Paper No 335, School of Economics, The University of Queensland.
This article brings into attention the applicability of multipart schemes hypothesis in economics. Complex systems theory in this article is assessed besides being measured up to customary looms to monetary hypothesizing which is dependent on forced optimization. The article defines complex systems in the context of economics. The article further explains why it becomes necessary to approach the economic analysis from a network and not from production and utility function perspective when dealing with complex systems. The article presents the challenge of on how to replace the available simplistic hypothesis that is based on constrained optimization, with simple hypothesis derived from network representation (Clayton, & Radcliffe, 2018).
Joeri, S,. (2017). Complexity Economics: Exploring Economics
This article brings into attention the core elements as well as terms, analysis, as well as conception of economy. The article presents complexity economics as a study of economic systems as complex systems. The complexity economists are described to be studying the emergence of structures as well as the unfolding of patterns in the economy. The article also describes the mainstream equilibrium models that have little to add in financial crisis in terms of policy direction in the current economy. The economy is also presented in the article as a complex system which has got, belongs to, as well as overlaps with other complex systems (Rutter et al, 2017).
Alamoudi D, Kumar A (2017). Information System Complexity and Business Value: Int J Econ Manag Sci 6: 400 doi:b10.4172/2162.1000400.
The article brings into attention the complexity of information system as very subjective and impacted by many variations of individuals, tools, as well as process within the business. The article notes that any slight shift in the components that forms the system complexity will heavily impact on the intended outcome results. The complexity theory as well as its components has been discussed in this article besides discussing the various techniques that are suggested to curb information system complexity as well as simplifying the processes in the business operations. The relationship between that business system complexity as well as the business performance has also been highlighted in the article (Asokan, Yarime, & Esteban, 2017).
References:
Asokan, V., Yarime, M., & Esteban, M. (2017). Introducing flexibility to complex, resilient socio-ecological systems: a comparative analysis of economics, flexible manufacturing systems, evolutionary biology, and supply chain management. Sustainability, 9(7), 1091.
Clayton, T., & Radcliffe, N. (2018). Sustainability: a systems approach. Routledge.
Rutter, H., Savona, N., Glonti, K., Bibby, J., Cummins, S., Finegood, D. T., ... & Petticrew, M. (2017). The need for a complex systems model of evidence for public health. The Lancet, 390(10112), 2602-2604.
Valentinov, V., & Chatalova, L. (2016). Institutional economics and social dilemmas: a systems theory perspective. Systems Research and Behavioral Science, 33(1), 138-149.