Core Themes of the Multilevel Paradigm
The multilevel economic paradigm extends Darwin’s evolutionary framework of thought (concerned with living things) to economics, in contrast to the neoclassical paradigm, which is modeled after Newtonian mechanics (applicable primarily to inanimate objects). The central theme of the multilevel paradigm is functional organization, which refers to the way in which economic agents (individuals and groups) and systems are structured to achieve economic objectives. The multilevel paradigm recognizes that people are engaged in multiple levels of functional organization and thus agency is distributed between individuals and groups. These levels are flexible through time and across domains (economic, political, social and environmental), so that the economy is understood as embedded in the polity, society and the natural world. Flexible levels of functional organization are both a cause of and response to radical uncertainty. This flexibility of functional organization implies multilevel economic decision-making and multilevel flourishing.
Date: 6 March 2025, 14:30
Venue: Manor Road Building, Manor Road OX1 3UQ
Venue Details: Seminar Room C & online
Speaker: Dennis Snower (President and Founder of the Global Solutions Initiative)
Organising department: Institute for New Economic Thinking
Organisers: Fiona Burbage (INET Oxford, University of Oxford), Prof Eric Beinhocker (INET Oxford Executive Director)
Organiser contact email address: events@inet.ox.ac.uk
Host: Prof Eric Beinhocker (INET Oxford Executive Director)
Part of: INET Oxford Seminars
Booking required?: Required
Booking url: https://app.onlinesurveys.jisc.ac.uk/s/oxford/inet-oxford-seminar-series-week-7-6-march-2025
Booking email: events@inet.ox.ac.uk
Cost: free
Audience: Public
Editor: Fiona Burbage