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Pluralism(s) in economics: lessons from complexity and innovation. A review paper

  • Magda Fontana

    ()

My analysis focuses on two main observations. First, many competing schools of thoughts are currently present in economics with no predominant paradigm. We are experiencing an era of pluralism (Davis J Econ Methodol 14(3):275–290, 2007 , Camb J Econ 32:249–366, 2008 ; Colander 2000 ; Colander et al. J Polit Econ 16(4):485–499, 2004 ). The term ‘pluralism’ is extremely interesting since, as I will show, it has different dimensions to it. These offer insights into interpreting the tangled universe of the economics. Second, there is a progressive intertwining of innovation economics with complexity economics, which I argue provides an instance of the above-described shift toward pluralism. Copyright Springer-Verlag Berlin Heidelberg 2014

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File URL: http://hdl.handle.net/10.1007/s00191-013-0333-5
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Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 24 (2014)
Issue (Month): 1 (January)
Pages: 189-204

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Handle: RePEc:spr:joevec:v:24:y:2014:i:1:p:189-204
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  1. repec:rie:review:v:16:y:2011:i:1:n:2 is not listed on IDEAS
  2. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
  3. Fontana, Magda, 2010. "Can neoclassical economics handle complexity? The fallacy of the oil spot dynamic," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 584-596, December.
  4. John B. Davis, 2008. "The turn in recent economics and return of orthodoxy," Cambridge Journal of Economics, Oxford University Press, vol. 32(3), pages 349-366, May.
  5. Kirman Alan, 2011. "The Crisis in Economic Theory," Rivista italiana degli economisti, Società editrice il Mulino, issue 1, pages 9-36.
  6. John Foster, 2000. "Competitive selection, self-organisation and Joseph A. Schumpeter," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 311-328.
  7. David Colander & Richard Holt & Barkley Rosser, 2004. "The changing face of mainstream economics," Review of Political Economy, Taylor & Francis Journals, vol. 16(4), pages 485-499.
  8. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211.
  9. Fontana Magda, 2009. "The Santa Fe Perspective on Economics: emerging patterns in the science of complexity," CESMEP Working Papers 200908, University of Turin.
  10. Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, vol. 7(02), pages 149-159, November.
  11. Marchionatti Roberto, 2002. "Dealing with complexity Marshall and Keynes on the nature of economic thinking," CESMEP Working Papers 200201, University of Turin.
  12. John B. Davis, 2007. "The turn in economics and the turn in economic methodology," Journal of Economic Methodology, Taylor & Francis Journals, vol. 14(3), pages 275-290.
  13. William Latham & Christian Le Bas, 2010. "Causes, Consequences and Dynamics of 'Complex' Distributions of Technological Activities: The Case of Prolific Inventors," Working Papers 10-02, University of Delaware, Department of Economics.
  14. Jackie Krafft & Francesco Quatraro, 2011. "The dynamics of technological knowledge," Post-Print halshs-00727633, HAL.
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