Filip Lubinski

Is the modern economy complex enough for a paradigm shift?

Why does the current economic paradigm fail in a complex economy?

What are the propositions for a competition law fit to a complex economy?

My second article about the complexity science written for the Competition Law Insight.

Read it here:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5244963

This article is the next step after “Complexity Science in the Debate on the Future of Competition Law,” my previous publication in this journal. Just as the first text presented four separate initiatives for competition law inspired by complexity science, this text introduces their essential propositions. In three sections of this article, I would like to explain how complexity increases, why the modern economy became so complex, and the consequences of this process. The article consists of three sections. The first describes changes that made the early 21st century a proper moment for unlocking the evolution of the economic paradigm of competition law. The second section summarizes the critique against the currently dominant paradigm. It explains the analytical shortcomings of neoclassical economics when confronted with the increasing complexity of the modern economy. The last section uses this context to present briefly the most important propositions of the mentioned initiatives. 

The first article:

Complexity Science in the Debate on the Future of Competition Law (article)