Ontology, complex adaptive systems and economics

Bahar Araz and Jamie Morgan

Cambridge Journal of Economics, 2024, vol. 48, issue 6, 987-1004

Abstract: In this article we first set out what complexity theory is and its place in economics. We then discuss whether complexity economics has observably transformed the mainstream before asking, even if complexity economics did in fact succeed in changing the mainstream, would this make the mainstream significantly different? The purpose of the article is to establish that complexity economics is different than the previously existing mainstream but, drawing on critical realism and social ontology, not as different as one might think. We conclude by suggesting there is scope for a more ontologically nuanced understanding of complexity.

Keywords: Complexity theory; Complexity economics; Complex adaptive systems; Diversity in mainstream economics; Critical realism; Social ontology (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/cje/beae032 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:48:y:2024:i:6:p:987-1004.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().