Symposium U. Global Crisis: Transitory Exogenous Shock or Unavoidable System Dynamics?

Chair: Manuel Wäckerle, Vienna University of Technology


Is it possible to describe the global economic and financial crisis in cybernetic terms? Was the crisis triggered by chance or are there essential feedback mechanisms which drive the system into difficulties? Are there pathways out of the crisis? What are the necessary emergent features to improve global welfare?


  • Peter Fleissner, Vienna University of Technology: The Global Financial Crisis from a Dwarf’s Perspective: Austria’s contribution
  • Stephan Schulmeister, Austrian Institute of Economic Research: The current crisis as implosion process
  • Gerhard Hanappi, Vienna University of Technology: Ten immediate measures to start a pilot project Europe
  • Discussion:
    – Is the global crisis also a crisis of economics? How do you think the economic discipline should change?
    – Is the global crisis a crisis of democracy? How to improve post-democracy from a systems-science perspective?
  • General discussion: questions from the audience


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