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A Note on Complex Adaptive System

The Global economy can best be understood as a complex system, or a complex adaptive system (CAS).  It is a self-organising system with immense capacity for survival and containing gross contradictions: wealth poverty, freedom and servitude, opportunity and inequity – a list of opposites.

The defining characteristics of complex adaptive systems are non-linearity, the possibility of evolution or emergence or new forms or structures and ambiguity. Complex systems are adaptive in that agents who are part of the system acquire information, identify regularities, so that they can adopt to build models to understand, and try to control their world.  The capacity to learn from experience is part of the evolutionary process, especially in social systems.  This intelligent property makes them adaptive (Holland, 1995 1998; Simon, 1996).

 

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