Complexity Theory and Agile Policy-Making

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Abstract

Complexity thinking has provided new insights into economic problems. Nevertheless, in many respects it has also reminded us of older approaches to economic analysis, long side-lined by economic orthodoxy but now rediscovered. This chapter starts with some of the central tenets of orthodox economic analysis; it considers how these are put in question by complexity thinking; and it provides three examples of the ‘agile policy-making’ that this new perspective provides. It points to some of the profound institutional changes needed to produce an efficient economic policy, in a world of limited predictability and control.
Original languageEnglish
Title of host publication“To the Man with a Hammer…”:
Subtitle of host publicationAugmenting the Policymaker’s Toolbox for a Complex World
EditorsBertelsmann Stiftung
Place of PublicationGütersloh, Germany
PublisherBertelsmann Stiftung
Pages107-120
Number of pages14
ISBN (Print)9783867936798
Publication statusPublished - 15 Feb 2016

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Room, G. (2016). Complexity Theory and Agile Policy-Making. In B. Stiftung (Ed.), “To the Man with a Hammer…”: : Augmenting the Policymaker’s Toolbox for a Complex World (pp. 107-120). Gütersloh, Germany : Bertelsmann Stiftung.