Talk:Economic interdependence

§

Sociology Mid‑importance

	Society portal This article is within the scope of WikiProject Sociology, a collaborative effort to improve the coverage of sociology on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.SociologyWikipedia:WikiProject SociologyTemplate:WikiProject Sociologysociology articles
Mid	This article has been rated as Mid-importance on the project's importance scale.

Economics Low‑importance

	Business and economics portal This article is within the scope of WikiProject Economics, a collaborative effort to improve the coverage of Economics on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.EconomicsWikipedia:WikiProject EconomicsTemplate:WikiProject EconomicsEconomics articles
Low	This article has been rated as Low-importance on the project's importance scale.

This article was the subject of an educational assignment in Fall 2015. Further details were available on the "Education Program:University College London/MSIN1003 Information World (Autumn 2015)" page, which is now unavailable on the wiki.

Much of the literature on economic interdependence discusses the interdependence of nations. There is a broad-brush discussion of the interdependence of participants within a national economy and its significance for economics in the post, "Interdependence: a Stategic Problem for Economics" in The Kinky Economist {http://kinkyeconomist.typepad.com }(talk) 14:11, 2 January 2019.

 2600:1003:B44B:5A8:DD42:5D5:231D:5087 (talk) 01:20, 27 October 2015 (UTC) Temple Bayliss.[reply]

Importance of Economic Interdependence

Assigning low importance to economic interdependence is a mistake. The subject has not been thoroughly explored, but that does not mean it is unimportant. An immediate consequence of the division of labor, interdependence requires that any economic activity ordinarily affects participants throughout the system. This complexity should not be ignored. If we do ignore economic interdependence we are likely to overlook a family of effects that are central to economics. For example, in an interdependent system the successful introduction of a new product can (but does not always) increase aggregate sales. In a system without interdependence the introduction of a new product just shifts sales away from other products. This topic is explored in Chapter XI of A. A. Cournot's Mathematical Principles of the Theory of Wealth (1838). However, this chapter is not universally accepted. The problem seems to be that Cournot uses a rigid division of labor in which individuals and organizations cannot move from the production of one product to another. The result is a simplification and overstatement of the consequences of interdependence. :Temple Bayliss|talk]]) 13:47, 31 March 2023 (UTC)