J. Barkley Rosser Jr.
John Barkley Rosser Jr. (April 12, 1948 - January 10, 2023) was a
mathematical economist and Professor of Economics at
James Madison University in
Harrisonburg, Virginia since 1988. He was known for work in nonlinear economic dynamics, including applications in economics of
catastrophe theory,
chaos theory, and
complexity theory (complex dynamics,
complexity economics). With Marina V. Rosser he invented the concept of the "new traditional economy". He introduced into economic discourse the concepts of
chaotic bubbles,
chaotic hysteresis (op. cit., p. 326), and econochemistry. He also invented the concepts of the
megacorpstate and
hypercyclic morphogenesis. He was the first to provide a mathematical model of the
period of financial distress in a speculative bubble. With Marina V. Rosser and Ehsan Ahmed, he was the first to argue for a two-way positive link between income inequality (
economic inequality) and the size of an
underground economy in a nation.
Rosser's equation has been used to forecast ratios of future Social Security benefits to current ones in real terms.
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