Category Archives: Economy

Empathy promotes Altruistic behavior in economic interactions

What are the determinants of altruism? While economists assume that altruism is mainly driven by fairness norms, social psychologists consider empathy to be a key motivator for altruistic behavior. To unite these two theories, we conducted an experiment in which we compared … Continue reading

Posted in Altruism, Economy, Empathy | Tagged , ,

Culture and Economy in the Age of Social Media

Understanding social media requires us to engage with the individual and collective meanings that diverse stakeholders and participants give to platforms. It also requires us to analyse how social media companies try to make profits, how and which labour creates this profit, who … Continue reading

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The Methodology of Polanyi’s Great Transformation

Polanyi’s book on The Great Transformation provides an analysis of the emergence and significance of capitalist economic structures which differs radically from those currently universally taught in economic textbooks. This analysis is based on a methodological approach which is also … Continue reading

Posted in Capitalism, Economy, Polanyi, Political economy | Tagged , , ,

Culture and Economy in the Age of Social Media

Understanding social media requires us to engage with the individual and collective meanings that diverse stakeholders and participants give to platforms. It also requires us to analyse how social media companies try to make profits, how and which labour creates … Continue reading

Posted in Cultural materialism, Culture, Economy, Fuchs, Social media | Tagged , , , ,

Process and Emergence in the Economy

It should be clear by now that exclusively posing economic problems as multiagent optimization exercises makes little sense from the viewpoint we are outlining—a viewpoint that puts emphasis on process, not just outcome. In particular, it asks how new “things” … Continue reading

Posted in Complexity economics, Economy, Emergence, Process | Tagged , , ,

The Complexity Era in Economics

This article argues that the neoclassical era in economics has ended and is being replaced by a new era. What best characterizes the new era is its acceptance that the economy is complex, and thus that it might be called … Continue reading

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Complexity Economics: A Different Framework for Economic Thought

This paper provides a logical framework for complexity economics. Complexity economics builds from the proposition that the economy is not necessarily in equilibrium: economic agents (firms, consumers, investors) constantly change their actions and strategies in response to the outcome they … Continue reading

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The Santa Fe Perspective on Economics: emerging patterns in the Science of Complexity

The complexity approach to economics largely originated from the “Santa Fe Perspective“: the view of a group of scientists working in the Economics Program at the Santa Fe Institute for the Study of Complex Systems. This paper tells the story … Continue reading

Posted in Complex system, Complexity, Complexity science, Economic complexity, Economic systems, Economy | Tagged , , , , ,

Evolution and Complexity in Economics

The paper discusses recent trends in the sister sciences of evolutionary economics and complexity economics. It suggests that a unifying approach that marries the two strands is needed when reconstructing economics as a science capable of tackling the two key … Continue reading

Posted in Economic complexity, Economic systems, Economy, Evolution, Evolutionary economics | Tagged , , , , | 2 Comments

Economy and Economics of Ancient Greece

Whilst modern economists are primarily concerned with how people behave, classical writers such as Plato, Aristotle, and Xenophon were more interested in how people should behave, thus marking the ethical difference between economics now and economics in Ancient Greece. Partly … Continue reading

Posted in Economic sociology, Economy, Greece, Society | Tagged , , ,