Exploring the significance of paradigms in economics, advocating for a balance between existing models and practical reasoning to avoid errors and encourage critical thinking.
Nicholas Gruen is the CEO of Lateral Economics, Patron of the Australian Digital Alliance, and a Visiting Professor at Kings College London.
In this episode, Nicholas discusses the limitations of traditional economic models and emphasises the importance of nuanced problem-solving. He advocates for critical thinking and an interdisciplinary approach to decision-making within complex economic systems, and asks if embracing another paradigm, in this case, complexity economics, is really the answer.