Ordem e caos: um conceito alternativo de mercado

Abstract

Even being one of the pillars to the capitalist system operation, it is true that the concept of market is no consensus among the different approaches of economic thought, because of the different assumptions and axioms that underline its analysis. This paper aims to provide a holistic and pragmatic view of the market based on the concepts of spontaneous order, natural rates and articulated rational expectations with the Chaos Theory. Based on these theoretical foundations it can be concluded that the market is a spontaneous and in progress order, full of nonlinear relationships and made up by self-interested agents who, through social learning process, complicate and enhance the institutional, cultural and technical patterns what make up the market itself in the course of a dynamic time.