Pluralism in economics is the view that modern approaches to studying economic phenomena are too restrictive. It is an important issue within the development of the discipline as many approaches that were once deemed to be outside the mainstream have now become part of the consensus, e.g. game theory, behavioural economics, and information economics. Pluralism and Complexity explores the philosophical background to pluralism and shows how this can be applied to modern economics. It examines key moments like the Keynesian Revolution and the New Classical counter-revolution to show how different 'epistemic visions' arise from fundamentally different ways of handling and simplifying complexity. Examining the history of aggregate economic analysis, this book argues that the propagation of a dogmatic view of science by political and self-interested elites creates a severe deficit of pluralism in macroeconomic research and offers suggestions for reversing this dangerous trend in economics and beyond.

‘In this book, Vercelli masterfully discusses the impact on pluralism of the main dimensions of complexity. Vercelli leads the reader through a fascinating … re-examination of economic theory through the lens of complexity, thus overcoming the reductionism of dominant economic theory. The result is a book that should be in every economist's library.'

Mauro Gallegati - Polytechnic University of Marche, Ancona (Italy)

‘Pluralism and Complexity constitutes a formidable scholarly achievement, rigorously charting the co-evolution of rationality and pluralism. Vercelli establishes a sophisticated epistemic framework that re-conceives pluralism … as a necessary methodological response to the intrinsic complexity of economic and other empirical systems. By diagnosing the prevailing deficit of pluralism as a fundamental scientific failing rather than a mere philosophical disagreement, the book provides an indispensable foundation for the renewal of economic science. An essential read for economists, philosophers of science, and policymakers committed to advancing evidence-based inquiry.'

Karim Errouaki - University of Málaga and UNACCC High Representative to the EU

‘Alessandro Vercelli's Pluralism and Complexity book is an erudite plea for pluralism in economics at a time when pluralism seems to have disappeared from economists' radars. A courageous, thoughtful and enriching contribution.'

Michel De Vroey - Université catholique de Louvain