Complexity economics draws on strands of the discipline less enamoured of equilibrium. Joan Robinson, a British economist, worried that equilibrium models understated the role of history in determining outcomes. The Economist
Our task is not to make the perfect human society, but rather a good enough world in which each of us has sufficient (but never too many) resources to handle our encounters with the inevitable sufferings of a world full of chance and complexity. New York Times
The old rules are being rejected, among liberals and conservatives, politicians and economists. New York Times
Modern Monetary Theory holds that a government able to borrow in its own currency need not be constrained by budget deficits and debt — meaning that it can act more boldly than economists have assumed, without negative consequences. New York Times
In the 21st century, environmental policy is economic policy. By Jedediah Britton-Purdy, a professor of law at Columbia and the author, most recently, of “After Nature: A Politics for the Anthropocene.” New York Times
The euro remains vulnerable to another crisis. The next crisis could heighten the perceived urgency of fundamental reforms and lead Europe’s citizens to accept the modicum of political integration needed to implement them. So reformed and restructured, the euro would operate better. (The Conversation)
© Stefan P. Schleicher 2024
