Many would argue that standard economic theory enabled us to analyse and understand the economy as it used to be,
with long stable periods punctuated only by occasional crises. However, the recent evolution of the global economy should drive us to pursue ways of expanding economic theory
such that it encompasses the new structures and organization
emerging as we globalize and network our world.
This is from a great new paper by Dirk Helbing and Alan Kirman, which asks and attempts to answer many questions that are of importance to development, and answer them by drawing on ideas from complexity theory. Well worth a read.

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About Ben Ramalingam

I am a researcher and writer specialising on international development and humanitarian issues. I am currently working on a number of consulting and advisory assignments for international agencies. I am also writing a book on complexity sciences and international aid which will be published by Oxford University Press. I hold Senior Research Associate and Visiting Fellow positions at the Institute of Development Studies, the Overseas Development Institute, and the London School of Economics.

Category

Economics, Evolution, Financial crisis, Innovation, Knowledge and learning, Networks, Public Policy, Resilience, Self organisation, Traffic