Determinism

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Determinism

Fully ordained in advance. A deterministic chaos system is one that gives random looking results, even though the results are generated from a system of equations.

Determinism

In economics, the theory that occurrences are caused directly by other occurrences, and that economic agency by individuals plays little or no role. For example, a company's success occurs because social and economic pressures cause its products to be demanded, and not because of any marketing strategy its management devises. Determinism is associated with Karl Marx, who believed in the importance of historical analysis in explaining economic phenomena. However, some Marxist analysts have rejected that Marx taught economic determinism.
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