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会员注册Abstract：Persistent cycles, excess capacity, and disruptive technology in macro dynamics and division of labor cannot be explained within the equilibrium-mechanical framework.Macroeconomic movements can be better described by endogenous fluctuations, such as the birth-death process and color chaos. Uneven growth can be understood by market-share competition under resource constraint. Diversified patterns and corporate strategy in the division of labor is described by a risk culture in learning by trying. The Smith dilemma can be solved by the trade -off between stability and complexity. Economic complexity and market resilience provide a new perspective of economic dynamics.
JEL Classification: A12, B41, C52, D24, E32, G10, L16, M14, M31
Key Words: Birth-death process, Color chaos, Division of labor, Economic complexity, Excess capacity, Learning by trying, Market resilience, Market-share competition, Persistent cycles, Product cycle, Risk culture, Smith Theorem.
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