Complexity Economics and Workaday Economic Policy

David Colander

Chapter 9 in How Economics Should Be Done, 2018, pp 117-130 from Edward Elgar Publishing

Abstract: Much of what filters down to standard economists about complexity economics are summaries of abstract analysis that are generally seen as having little direct impact on the workaday policy analysis that most economists do. This chapter argues that complexity theory has significant implications for workaday economic policy. Even if economists do not accept that the complexity scientific theory of the economy is ready for prime time, the complexity vision, which pictures an economy as a complex evolving system undergoing continual evolutionary change, has direct relevance for their workaday applied policy.

Keywords: Economics and Finance; Research Methods (search for similar items in EconPapers)
Date: 2018
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