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The complexity and the constructivism in economics

Author

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  • Arnaldo Mauerberg Jr.

Abstract

This paper attempts to show and summarize the concept of rules, order and complexity introduced around the mid-twentieth century by Friedrich August von Hayek. It also attempts to create a current parallel between those concepts and the field of complexity economics. At the time of his writings, the author sought to present arguments against the Cartesian rationality. Nowadays, the concepts presented by him could also serve as arguments against the way of thought used in mainstream microeconomics. A debate can now be seen between the mainstream microeconomics and the authors of the complexity theory applied to the economy, which can be understood as explanations guided by generic assumptions versus natural explanations guided in a computational approach. JEL Classification: B41; B52; B53; D03; D79; D89.

Suggested Citation

  • Arnaldo Mauerberg Jr., 2013. "The complexity and the constructivism in economics," Brazilian Journal of Political Economy, Center of Political Economy, vol. 33(3), pages 446-462.
    • Handle: RePEc:ekm:repojs:v:33:y:2013:i:3:p:446-462:id:322
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/322/313
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    Keywords

    Social behavior; Hayek; complexity; mainstream microeconomics;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other

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