Complex sentence: The Milken Institute is an independent economic think tank based in Santa Monica, California that publishes research and hosts conferences that apply market-based principles and financial innovations to a variety of societal issues in the US and internationally.
Split into simpler sentences: The Milken Institute is an independent economic think tank based in Santa Monica, California. It publishes research and hosts conferences that apply market-based principles and financial innovations to social issues in the US and internationally.