A New Toolbox in Economic Research

In studying living organisms, the scientist first simplifies and explains how the various organs function, then explains about the different systems and their interrelations, thus performing analysis and synthesis. Studying the interrelations among systems, scientists from life sciences point to a unifying force that sustains all the cells in an organism. The cells absorb the beneficial and secrete what is not beneficial, thus creating a life of balance and harmony.

As a physiologist must be equipped with the right tools for that field of research, an economist needs the right tools for his or her studies. An absence of appropriate tools to build or define a new model impedes the finding of solutions to the current global crisis. The new model addresses the fact that today the system is global and connected by ties of mutual dependence. For now, that model may not be entirely clear to us, due to limitations imposed by the economic theory that has evolved over the previous century.