Effective mathematical modeling and scenario planning should not solely rely on the framework but should also be embedded in thoughtful discursive analysis. It requires rigorous human thought, creativity, and a balance between structured mathematical models and qualitative analysis to provide valuable insights and solutions to complex problems.
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.
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