Current mainstream economic theory needs a major overhaul. Why? Because it seems to ignore that modern advanced economies are evolutionary complex systems. Both economic theory and political economics ...

Economic complexity refers to the diversity and sophistication of the productive capabilities embedded in a country’s industrial structure. It shapes patterns of trade, innovation and resource use, ...

Economic complexity examines how the diversity and sophistication of a country’s productive capabilities shape its growth trajectory. By mapping the network of products that economies export or ...

Industry, Innovation and Science Minister Christopher Pyne says he will release his ‘inner revolutionary’ to help make Australia’s economy more innovative. Mick Tsikas/AAP Australian Prime Minister ...

Economics is in the midst of a revolution – its biggest in over a century. There are new insights into the workings of the economy. “Complexity Economics,” as Beinhocker of McKinsey calls the new ...

I’ve written before about how economies can be thought of as network-based supercomputers that physically rearrange atoms — what some academics mean by the term “information” — to generate value. As I ...

Why do some countries become rich while others stagnate? And can you predict which countries become wealthy in advance of them actually increasing their collective GDP? The answer may lie in the ...

Complexity theory is needed for a better understanding and management of financial-economic crises, according to a new article. The article, which is authored by an interdisciplinary group of ...

A new paper argues that everything else being equal, the complexity of a country's exports also correlates with its degree of economic equality: The more complex a country's products, the greater ...

Growth in Latin America and the Caribbean has weakened significantly over the last few years. Part of this weakness appears to be here to stay, and IMF economists have marked down medium-term growth ...

CONSIDER THE task economists have set themselves. The global economy is the outcome of near-constant interaction between billions of unique individuals. To attempt to model even a small corner with a ...