Emily Nicole Alexander

Collin College,

Plano, USA

E-mail: ealexander@collin.edu 

ORCID 0000-0002-1979-2138

Economic thought and practice: A look into economic conceptualizations using complex systems theory

Jonan Phillip Donaldson

University of Alabama at Birmingham,

Birmingham, USA

E-mail: jonandonaldson@uab.edu 

ORCID 0000-0003-1469-6275

Abstract. This paper develops an innovative methodology using complex conceptual systems theory to study the conceptualizations of modern economists and the emergent economic practices that result from these conceptualizations. This approach integrates qualitative coding with network analysis to map interdependent ideas and identify leverage points within economic thought systems. The research in this study focuses on differences and discrepancies in economic thought between minority and dominant demographic groups and the resulting practices that are emergent from different conceptualizations. Analysis of 50 blog posts from 26 economists revealed four distinct conceptualizations: the 'Change-Inclusion' conceptualization (emphasizing equity and systemic change) was predominantly associated with minority economists; the 'Workers-Struggle' conceptualization (emphasizing worker essentiality and government intervention) aligned with white cisgender female economists; while an incomplete 'Risks-Individualism' conceptualization (emphasizing personal gain and condemning social safety nets) was linked to white cisgender male economists. The findings confirm vast differences in conceptualizations connected to distinct demographic groups, with corresponding differences in emergent economic practices. Although this innovative methodology is in early stages of development, the findings suggest it holds potential for understanding the complexity of economic thought and the relationships between conceptualizations of economics and practices. 

Received: July, 2024

1st Revision: March, 2025

Accepted: June, 2025

DOI: 10.14254/2071-789X.2025/18-2/5

JEL Classification: J15, Z13, Z18, A13, D83

Keywords: complex systems, conceptualizations, emergence, diversity, public policy