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Babel’s Tower

In this book William Krehm develops a relativistic view of all economic theory. This is necessary, so as to establish the quite different logics that govern the subsystems that make up our pluralistic economy.

To lift the debate above dogmatic issues of economic theory he applies the methods of system dynamics as developed by J.W. Forrester, extends the entropy concept to take in purely economic potential differences, and examines how these tend to run down in each of our subsystems.

However, our economic and social transformations throw up new negentropies that must be utilized. The price gradient itself is one of the most promising of these. Only by harnessing it for desireable social ends can we keep our economy functioning.

Babel's Tower abounds with new concepts and tools that are indispensible for understanding and managing our mixed economy – structural quasi-rents, inter-sectorial transforms, modulus congruence calculus. The book is accessible to the intelligent layman.