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Exploring the Foundations of Complexity Economics: Unveiling the Interplay of Ontological, Epistemological, Methodological, and Conceptual Aspects

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  • Sandye Gloria

    (Université Côte d'Azur, CNRS, GREDEG, France)

Abstract

What gives complexity economics its identity is the relationships and hierarchy among its ontological, epistemological, methodological, and conceptual aspects. This paper explores each one of these aspects and their interplays, to precise the contours of the complexity approach. This paper aims to stress the coherent articulation and architecture of these four dimensions. In particular, ontology matters, it comes first as an indispensable pre-scientific analysis that conditions the adoption of an adequate criterion of scientific explanation with methodological consequences in terms of relevant tools and key concepts. Reflections on the concept of emergence are particularly symptomatic of the overall coherence of the complexity approach. It becomes challenging to persist in attempting to enhance the mainstream with new tools to address novel phenomena and, more broadly, to regard the complexity approach as a supplement. Instead, the complexity approach emerges as a distinct alternative approach.

Suggested Citation

  • Sandye Gloria, 2024. "Exploring the Foundations of Complexity Economics: Unveiling the Interplay of Ontological, Epistemological, Methodological, and Conceptual Aspects," GREDEG Working Papers 2024-11, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    • Handle: RePEc:gre:wpaper:2024-11
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    References listed on IDEAS

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    2. G. Hodgson, 2007. "What Are Institutions?," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 8.
    3. Tony Lawson, 2005. "The (confused) state of equilibrium analysis in modern economics: an explanation," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(3), pages 423-444.
    4. Sheila C. Dow & Victoria Chick, 2012. "The Meaning of Open Systems," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 11, pages 178-196, Palgrave Macmillan.
    5. Sandye Gloria & Ludovic Ragni & Richard Sturn, 2022. "Introduction: roundabout ways of looking at Menger’s modernity," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 29(5), pages 781-787, September.
    6. Sandye Gloria, 2021. "The Modernity of Carl Menger: Austrian Economics and Complexity Economics," Post-Print hal-03500519, HAL.
    7. Jack Vromen, 2004. "Conjectural revisionary economic ontology: Outline of an ambitious research agenda for evolutionary economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 213-247.
    8. Sandye Gloria, 2021. "The Modernity of Carl Menger: Austrian Economics and Complexity Economics," Research in the History of Economic Thought and Methodology, in: Research in the History of Economic Thought and Methodology: Including A Symposium on Carl Menger at the Centenary of His Death, volume 39, pages 57-73, Emerald Group Publishing Limited.
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    More about this item

    Keywords

    Complexity economics; ontology; generativism; constructivism; emergence;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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