The Santa Fe approach to complexity: A Marshallian evaluation

The paper examines the characteristics of the 'Santa Fe approach' (hereafter SFA) to complexity and attempts its evaluation in terms of the Marshallian intellectual tradition. The paper is organised into three parts. The first part outlines the main features of the SFA The second describes Marshall's views on complexity and his appeal to common sense as a way to apply economic reasoning (on complex systems) in practice. The last part argues that Marshall's views on complexity, rather than just being a historical precedent for the SFA, consist in an original illustration of the role of judgement in the use of economic theory.