Complexity modelling in economics: the state of art
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The crisis happened in the world in the last years, describing a whole of interdependencies and interactions, highlighted the theory’s fundamental flaws of neoclassical economic theory: its unedifying focus on prediction and, above all, its inability to explain how the economy really works.
It is the time to investigate economic phenomena not as derived from deterministic, predictable and mechanistic dynamics, but as history-dependent, organic and always evolving processes. Because this view implies new challenges and opportunities for policy, we will focus the attention on innovative components of Complexity Theory for the study of economics and the evaluation of public policies.