Challenging chaos theory and catastrophe theory, the author contends that with the fragmented state of knowledge in contemporary times, these dynamic equilibrium-oriented theories are inadequate for generating new knowledge. Arguing that knowledge is dynamic and disequilibrium-oriented, Rich provides a new theoretical approach--crisis theory--and applies it to the problems of economics, politics, and the natural sciences. Crisis theory is constructed to deal with changes in problem areas, to allow for the development of new theories in both existing and emerging problem areas, and to allow...

After critiquing chaos, catastrophe, and complexity theories, showing their limitations in the contemporary era, Rich furthers the development of crisis theory and applies the crisis theory approach to biological and social evolution. Treating evolution in the context of crisis theory, he shows that as evolution is both genetic and social, social evolution is an extension of biological evolution. As physical evolution results from problem solving, social evolution develops from the solving of historically significant problems, bringing about, for instance, the post-World War II era of...

Building on his earlier Praeger work, "Contemporary Economics," Rich here examines current and historical, theoretical and practical, notions of welfare economics. Through an in-depth discussion of the theories of Edgeworth, Pareto, and Slutsky, the author analyzes how the present approach to welfare economics developed and how it has failed in significant ways to alleviate the problems of poverty and unemployment. Rich then develops a new theory of welfare economics based on the concept of dynamic disequilibrium and designed to respond to present-day economic and social realities....

As scientific discoveries and technological advances continue to modify our perceptions of reality at an unprecedented rate, the traditional frameworks for understanding and organizing our experience of truth and Knowledge have become less and less adequate. David Rich comes to grips with this problem in his innovative study, which shows how both knowledge and truth are conditioned by experience and explores the dynamics of creativity that generate knowledge.

This work presents a new theory and approach to the rapidly changing economics of international trade, which challenges the prevailing neo-Keynesian point of view. From a theoretical perspective, the author examines the arguments of classical and neoclassical economists to develop the concept of dynamic disequilibrium with respect to the business cycle and its influence on a country's international trade position. Additionally, this concept is applied to multinational corporations and customs unions such as the European Community in their practical trade relationships.

Beginning with an...

This unique work treats economic growth and development in terms of a theory which is applicable to an economy in the post-industrial, developing, and emerging stages. The author uses the theory to analyze and study the growth of an economy through these three stages of development within the framework of the business cycle in disequilibrium. This work has taken on special importance in light of the changing world situation, including the changes in the former Soviet Union, the peace process in the Middle East, and renewed concern for developing and emerging countries.