Eric Beinhocker: Complexity in Economic Theory - INET Panel (1/5)

Eric Pinholster introduces a panel on complexity economics, highlighting its importance in understanding economic systems beyond traditional equilibrium models. The discussion covers the limitations of equilibrium systems, the historical context of economic theories, and the emergence of complex adaptive systems. The panelists explore how these systems can provide insights into innovation, growth, and economic dynamics, contrasting them with traditional economic approaches.

How does Eric Pinholster suggest we visualize a complex adaptive economy?

What role does innovation play in complex adaptive systems according to Eric Pinholster?

In what ways do complex adaptive systems differ from traditional equilibrium models?

What are the characteristics of agents in a complexity approach to economics?