Suchergebnisse

Abstract
This paper analyzes the Ak model with anticipated future consumption. In the model with internal anticipation individual's utility depends on current consumption and a forward-looking reference level which is formed from individual's own future consumption. The global dynamics of the economy is characterized by means of a qualitative phase diagram analysis. In the model with external anticipation the consumption reference level is formed from economy-wide average future consumption, which is taken as given by individuals and causes the competitive equilibrium to be inefficient. Characterizing the global dynamics of the economy is required to characterize an optimal fiscal policy that corrects the inefficiency brought about by this external effect.

The thesis of this paper is that the transition between the modem & post-modem society is marked by the need for a new perspective on the distinction between freedom/control. This new perspective will allow us to clearly see the novelties of the social formation emerging in this brand new Third Millennium, in which building society appears in a new & peculiar form for the first time in human history, as weaving relational nets which activate several communication models. Figures, References. Adapted from the source document.