The Real “Third Way” of Economics
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2018, Vol 83, Issue 6
Abstract
Economists are searching since a long time for a “Third Way.” The “Third Way” is not to be found by a special mix of central planning and market, but by cooperation. Game theoretical proofs and meta logistics show an advantage of cooperation over competition. Competition in the realistic forms of imperfect competition has a destroying character, which leads to a loss of welfare. But cooperation has a preserved character, which brings out decreases of welfare. The welfare level is higher as the welfare level realized by imperfect competition. By cooperation it is possible to avoid the starting points of economic crises. An efficient economy is possible. The parts of meta logistics indicate the startings points of cooperation of the economic units with each other and with the state. A consequent utilization of these starting points leads to removing deficits of harmonizing between the private sector (suprastructure) of an economy and the public sector (infrastructure). The workability and the efficiency of an economy will increase.
Authors and Affiliations
Herman Witte
Keywords
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- EP ID EP539689
- DOI 10.26349/zn.wsb.w.poznaniu.0083.03
- Views 102
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