INET Visitor Seminar: David Colander, Christian A. Johnson Distinguished Professor of Economics at Middlebury College - "Complexity, Public Policy and Communication Failures"

Abstract:

In the seminar I will discuss some differences between Alan Kirman’s read of my recent Princeton University book with Roland Kupers, Complexity and the Art of Public Policy, in his extended Journal of Economic Literature review article, “Complexity and Economic Policy: A paradigm shift or a change in perspective?” (June 2016) and my interpretation of what I thought I was saying in the book.

His argument is that:

• I am right that complexity economics is a paradigm shift, but that I underestimate the degree to which it involves a change in policy thinking.
• I am wrong in not recognizing the full extent of the change that complexity implies for economic policy and am too tied to traditional economics' individualistic liberal ideology.

I do not see this as capturing my views. Specifically, I argue that:

• Where he states that he agrees with me, I do not see myself as agreeing with him. Specifically, I do not necessarily see complexity as a paradigm shift.
• Where he states that he disagrees with me, I don’t see us as disagreeing. Specifically, he sees to me as not being radical enough in drawing policy conclusions, and sees me as more tied to the economist’s standard model of equilibrium, and pro-market policy, than he is. I see myself as generally agreeing with him about the radical implications of complexity policy. If anything, I see myself as more radical than him on how economists should go about public policy analysis if they follow a complexity approach.