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 language | English |
|---|---|
| Title of host publication | “To the Man with a Hammer…”: |
| Subtitle of host publication | Augmenting the Policymaker’s Toolbox for a Complex World |
| Editors | Bertelsmann Stiftung |
| Place of Publication | Gütersloh, Germany |
| Publisher | Bertelsmann Stiftung |
| Pages | 107-120 |
| Number of pages | 14 |
| ISBN (Print) | 9783867936798 |
| Publication status | Published - 15 Feb 2016 |