Cybernetics and Macroeconomics: A Comment
Cybernetics and Macroeconomics: A Comment
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控制论和宏观经济学:评论
DOI:
10.1111/j.1465-7295.1976.tb00391.x
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发表时间:
1976
期刊:
影响因子:
1.8
通讯作者:
A. Leijonhufvud
中科院分区:
文献类型:
--
作者:
M. Aoki;A. Leijonhufvud
CYBERNETICS AND MACROECONOMICS: A COMMENT MASANAO AOKI and AXEL LEIJONHUFVUD University of California, Los Angeles We have no particular quarrels to pick with Cochrane and Graham. This is not that sort of Comment. The questions they concentrate on are: Why has the system theory-influenced work in economics not paid off? Why have the early efforts petered out? While we find their comments and inferences on the matter reasonable, their sum total strikes us as inconclusive and rather dissatisfying. Of course, it might be that these questions do not have very interesting or instructive answers. For, after all, failure of research efforts-even of the much bally-ho'ed ones-are common. Far more common than are successes. There is nothing about the expectable, and in interdisciplinary ventures failure is to be expected. Yet another humdrum object-lesson in how they fail we hardly need. We know how that will run: They fail when undertaken by people who are impatient for quick pay-offs, more prone to free themselves of a traditional intellectual discipline than anxious to submit to the doubled constraints of two at once, and less than appreciative of the reasons why the two fields they want to cojoin are separate in the first place. And so on. Is there, perhaps, nothing more for economists in system theory than facile analogies and sundry techniques to borrow? The Cochrane-Graham survey is, of course, predicated on the view that there is. We share that view. They do not tell us much, however, about what the opportunities were that have been missed. Yet, some conception of this need be conveyed, it seems to us, to inject interest into this interdisciplinary lack of success story. It would be inadvisable to try to couch our view of what the potential opportunities are in terms of generalities. If pretentious philosophizing on and could suffice to get the enterprise under way, it would be off to the races long since. To avoid that sort of thing, we will discuss a couple of illustrations so simple as to render deep and awful profundity rather impossible. One of these has been provided by Cochrane and Graham. 1. The illustrative block-diagram in the CG paper is a simple example of the type of diagrams utilized by Tustin to represent the systems he chose (on the advice of economist colleagues) to work with. It depicts an iterative scheme or routine for finding a solution to the two simultaneous equations of the simple Keynesian Substantive economic interest attaches to this mode of representation to the degree (if any) that one is willing to associate the results of successive rounds 251 Economic Inquiry Vol. XIV, June 1976 ECONOMIC INQUIRY of this iteration with a hypothetical sequence of events in an economic system. In the class of all such iterative schemes, we want to distinguish a particular subclass the members of which correspond to what we will call feedback Modern system theory deals exclusively with systems belonging to this subclass. In fact, this is taken so much for granted by system theorists and control engineers that the field has no accepted term to distinguish this subclass from other'systems' that may also be represented by iterative routines. The simple Keynesian model which the CG block-diagram illustrates does not belong to this subclass. Nor did the economic models which Tustin'redressed'in formalisms and terminology borrowed from system science belong to the class of error-activated feedback systems. This, we think, is where the early attempts to draw on system science for the benefit of economic theory went wrong. The concept of that then young discipline were (if that is the word) to the wrong type of systems; that being so, their …