THE FUTURE OF MACROECONOMICS: A CYBERNETIC VIEW

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Authors: K. Lawler, Professor, ORCID iD 0000-002-3409-6755, University of Kuwait, Kuwait, T. Vlasova, Visiting Research Fellow, ORCID iD 0000-0002-5000-6756, A.O. Moscardini, Visiting Professor, ORCID ID 0000-0003-4951-0848 , Northumbria University, UK, Alsariaan, Associate Professor, ORCID iD 0000-0003-1619-7680, University of Kuwait, Kuwait

Abstract: This paper outlines many weaknesses in macroeconomic theory today and suggests a way out of the dilemma is to use systems or cybernetic thinking. The paper uses a topical case study to illustrate the authors’ views of economics, cybernetics and mathematics. It concludes with recommendations for the future of economics in the 21st century.

Key words: Economics, Cybernetics, Mathematics, Knowledge.

Received: 26/02/2020

1st Revision: 20/03/2020

Accepted:10/04/2020

DOI:  https://doi.org/10.17721/1728-2667.2020/209-2/3

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