Why policy makers should embrace complexity economics as their analytical framework

Bill White gave a radio interview on 17 May to Chris Sheridan for the California-based Financial Sense Newshour.  The Financial Sense Newshour is a free financial/market broadcast that features analysis of current market events and interviews with financial experts. While directed in large part to the implications for public policy of embracing the concept of the economy as a complex adaptive system,  the discussion ranged more broadly over issues pertinent to both monetary policy and financial regulation. One important issue raised was an evaluation of Modern Monetary Theory, its near term allure but its longer-term dangers.