A glimpse into ‘complexity economics’

The new paradigm of complexity economics (CE) should not be sidelined by those interested in doing research on the relations between law and economic policy. The glimpse into CE provided by the video below brings up ideas which are much more interesting than those typically taken for granted by scholars engaged in conventional ‘economic analysis of law’.

It does not make sense for legal scholars engaged in studies about “law and economic matters” to cling to ideas of classical economics, which were borrowed from a mechanistic view of the world typical of eighteenth-century physics (e.g., linearity, regularity, predictability, deterministic cause-and-effect, equilibrium etc.). CE brings in more open-ended conceptions.

Another quick (but equally useful) video with comparable content is available here.

Members of LESG will certainly benefit from insights offered by discussions on CE.

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