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About Complexity Economics
This document discusses the need to rethink the basic assumptions of macroeconomics and financial theory using complexity theory. It argues that the standard economic models and assumptions, such as the economy being an equilibrium system and individuals acting rationally, did not adequately predict or explain the recent financial crisis. The crisis revealed issues with treating the overall economy as perfectly efficient and as if individuals act independently without considering interactions between economic agents. The document calls for a new paradigm in economic theory that incorporates a more systemic and interaction-based perspective.
Detailed Information
| Author: | ['algebra'] |
|---|---|
| Publication Year: | 2017 |
| Pages: | 37 |
| Language: | English |
| Format: | |
| Price: | FREE |
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