Complexity Theory and Agile Policy-Making

Graham Room

Complexity Theory and Agile Policy-Making

Graham Room

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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 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

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Complexity Theory and Agile Policy-Making

Abstract

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