LIMITS TO SOCIETAL SELF‐STEERING: LESSONS FROM AN ACTOR‐ORIENTED SYSTEMS APPROACH TO INFLATION IN THE UNITED KINGDOM AND SWITZERLAND

Abstract

The actor‐oriented systems approach, developed by the author and others, is applied to a comparative analysis of inflation and anti‐inflationary policies in Great Britain and Switzerland. Inflation is viewed as a systemic phenomenon, the result of a structure of linked decision settings. The devaluation‐inflation loop characterizing the British situation is then compared with the revaluation‐low inflation loop occurring in the Swiss case, while criticism is directed at the prevailing economic models which do not allow adequate forecasts because they do not incorporate self‐steering human actors.

Citation

BAUMGARTNER, T. (1984), "LIMITS TO SOCIETAL SELF‐STEERING: LESSONS FROM AN ACTOR‐ORIENTED SYSTEMS APPROACH TO INFLATION IN THE UNITED KINGDOM AND SWITZERLAND", Kybernetes, Vol. 13 No. 3, pp. 179-184. https://doi.org/10.1108/eb005689