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Our economic systems are of this type and share for general properties.
a) Dissipative systems transform energy and process information to maintain a state of organization that is non statuary,b) There system are wider in themselves, as well as components parts of some systems and oppositional to others, there connection permit the emergence of organized complexity and also structural discontinuity,
c) Such systems exhibit some degree of structural irreversibility due to inherent hierarchical and bonding nature of their processes of structural development,
d) The process that takes place can only be understood in an explicit historical time dimension, - that is, it is dynamic and for that reason, stages of emergence, growth, stationarity, structural transition are observed. Interestingly these factors result in variety innovations, selection and system maintenance.
“In the presence of institutional constraints, the Theory of Second Best tells us to perform the welfare maximization problem to solve the Pareto Optimal conditions and then apply
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Free Publicity is only the periodical subscription. This is only in newsletter in which one spills the guts about publicity. It is your chance to tap into one's brain and dig out a
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