The new economy, under the impetus of the ever-widening outreach
of the Internet, is undergoing a transition. In the meantime,
there's also been a shift to the information paradigm, with its
emphasis on lack of foresight. These processes have almost
completely supplanted the concept of market that was once one of
the most cardinal features of conventional economic theory.
In "Toward a General Theory of Exchange: Strategic Decisions and
Complexity," author Dr. Javaid R. Khwaja traces the slow melting of
the market, the most ubiquitous contraption and the summum bonum of
economic science, as an organized manifestation of complexity, with
its wide-ranging impact on the flow of funds. Using the historical
background of economic theories, this study blends the
interdisciplinary range and fills the vacuum that has existed among
current conventional economic theory, the theory of strategic
decision making, actor-network theory, the domain of law and
economics, and the science of complexity.
An observer of economic development for several decades, Khwaja
shows the relationship between technology and economics and how it
affects social exchanges and trends.
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