The spirit of Economic Complexity is to look at the interconnected structure that characterizes economy as a whole. Economy is today the most important "Big Data Science" and has to cope with the complexity emerging from this data. Vast multipartite networks connect countries to products, technologies to patents and patents to firms, consumers to producers and is from all these connections that economy gains its complexity. We aim to define new algorithms and metrics to untangle this complexity while not neglecting it.

One of the major challenges faced by western countries and world economy after the financial crisis of 2007 and the following economic stagnancy is to find new schemes of thinking about the economic growth and innovation.

In our vision economy can be seen as an ecosystem in a highly changing environment where evolutionary concepts apply. We believe that the competitiveness of economic systems, differently from the standard visions of economic theories, is not simply a matter of maximizing efficiency but rather the outcome of an adaptive process where all the other players must be considered at the same time. In some extents the country competitiveness represents, borrowing the term from Ecology, the fitness of the country in the globalized and highly interconnected world market. When measuring competitiveness these concepts must be taken into consideration and cannot be neglected to give an effective description of the present world economic playground.

Competing in dynamic and rapidly changing environments calls for a paradigm shift from the mainstream aggregated description of technology development and economic growth towards a novel vision in terms of evolutive process in dynamic and out-of-equilibrium ecosystems of technologies and industrial capabilities as shown in recent studies. The main challenge of this paradigm shift for economic theory consists in developing new metrics, measures, algorithms, methods to turn from qualitative to quantitive the intangibles assets that drive the technological development and country economic growth.

J.C. Trichet

“[…] We need to deal better with heterogeneity across agents and the interaction among those heterogeneous agents […] Agent-based modelling dispenses with the optimisation assumption and allows for more complex interactions between agents. Such approaches are worthy of our attention. […] In this context, I would very much welcome inspiration from other disciplines: physics, engineering, psychology, biology. Bringing experts from these fields together with economists and central bankers is potentially very creative and valuable. […] a determinedly empirical approach – which places a premium on inductive reasoning based on the data, rather than deductive reasoning grounded in abstract premises or assumptions – lies at the heart of these methods.” 

Opening address at the ECB Central Banking Conference, Frankfurt, 18/10/2010

J. Stiglitz

“It's actually a tribute to the quality of economics teaching that they have persuaded so many generations of students to believe in so much that seems so counter to what the world is like. Many of the things that I'm going to describe make so much more common sense than these notions that seem counter to what ones eyes see every day.” 

Nobel Prize Lecture, Information and the Change in Economics

Queen Elisabeth II

“Why did nobody notice it?” 

London School of Economics, November 2008

Scientific activities: Highlights

  1. A New Metrics for Countries' Fitness and Products' Complexity, Scientific Reports 2, 723 (June 2012) + Measuring the Intangibles: a Metrics for the Economic Complexity of Countries and Products, PLoS ONE 8(8): e70726 (Aug 2013)

  2. NEW The Scientific Competitiveness of Nations, PLoS ONE 9(12): e113470 (Dec 2014)

  3. NEW The Heterogeneous Dynamics of Economic Complexity, PLoS ONE 10(2): e0117174 (Jan 2015)

Media Coverage

  1. Sole24ore 6-nov-2012, Sul podio mondiale l'Italia dell'export

  2. Aspenia n.58 oct12, Rinnovare il pensiero scientifico

  3. Aspenia n.59 jan13, Export, specializzazione e complessità

  4. Il Mondo 11-Mar-2013

  5. Il Mondo 3-May-2013

  6. Spiegel, Innovationsforschung: Vielfalt bringt mehr Fortschritt als Spezialisierung

  7. Il Fatto Quotidiano 17-Jun-2013, L’economia è un biosistema

  8. Left Jun-2013

  9. L’Espresso Jun-2013

  10. Il Mondo 14-Feb-2014, Fisici oltre il PIL, l’idea di Pietronero [Il_Mondo_14_feb_14.pdf]

  11. Pagina99we 15-Marzo-2014, Il potenziale nascosto dell’economia [pagina99.pdf]

  12. NEW Nature, Physicists make ‘weather forecasts’ for economies

S. Keen

Unfortunately the vast majority of economists don't even consider private debt, because they follow an unrealistic theory—known as "Neoclassical Economics"—which attempts to model the economy as if it is inherently stable, and as if banks, debt and money didn't exist.” 

Minsky project.

  1. The Boston Consulting Group: Report on Sweden 2013 (pp 20-21-22-59-63)

  2. Royal Dutch Shell: Report on South Africa 2014

  3. Institute for Public Policy Research: Gathering Strength, Backing clusters to boost Britain’s exports. Dec. 2014

  4. Institute for New Economic Thinking (LP)

  5. Member of J. Stiglitz’s Task Force on Industrialization (LP)

Consulting activities

Learn more about the Complexity of Economicsfile://localhost/economic_complexity_flyer%20_v2.1_1.pdf