293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

A large economy is one of the best examples we have of complex dynamics. There are multiple components arranged in complicated overlapping hierarchies, out-of-equilibrium dynamics, nonlinear coupling and feedback between different levels, and ubiquitous unpredictable and chaotic behavior. Nevertheless, many economic models are based on relatively simple equilibrium principles. Doyne Farmer is among a group who think that economists need to start taking the tools of complexity theory seriously, as he argues in his recent book Making Sense of Chaos: A Better Economics for a Better World.

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Blog post with transcript: https://www.preposterousuniverse.com/podcast/2024/10/21/293-doyne-farmer-on-chaos-crashes-and-economic-complexity/

J. Doyne Farmer received his Ph.D. in physics from the University of California, Santa Cruz. He is currently Director of the Complexity Economics program and Baillie Gifford Professor of Complex Systems Science at the University of Oxford, External Professor at the Santa Fe Institute, and Chief Scientist at Macrocosm. He was the founder of the Complex Systems Group in the Theoretical Division at Los Alamos National Laboratory, and co-founder of The Prediction Company.


Jaksot(415)

229 | Nita Farahany on Ethics, Law, and Neurotechnology

229 | Nita Farahany on Ethics, Law, and Neurotechnology

Every time our brain does some thinking, there are associated physical processes. In particular, electric currents and charged particles jump between neurons, creating associated electromagnetic field...

13 Maalis 20231h 12min

AMA | March 2023

AMA | March 2023

Welcome to the March 2023 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Patre...

6 Maalis 20233h 1min

228 | Skye Cleary on Existentialism and Authenticity

228 | Skye Cleary on Existentialism and Authenticity

God is dead, as Nietzsche's madman memorably reminded us. So what are we going to do about it? If there is no powerful force out there to guide us and give meaning to our lives, how are we supposed to...

27 Helmi 20231h 16min

227 | Molly Crockett on the Psychology of Morality

227 | Molly Crockett on the Psychology of Morality

Most of us strive to be good, moral people. When we are doing that striving, what is happening in our brains? Some of our moral inclinations seem pretty automatic and subconscious. Other times we have...

20 Helmi 20231h 11min

226 | Johanna Hoffman on Speculative Futures of Cities

226 | Johanna Hoffman on Speculative Futures of Cities

Cities are incredibly important to modern life, and their importance is only growing. As Geoffrey West points out, the world is adding urban areas equivalent to the population of San Francisco once ev...

13 Helmi 20231h 12min

AMA | February 2023

AMA | February 2023

Welcome to the February 2023 Ask Me Anything episode of Mindscape! These monthly excursions are funded by Patreon supporters (who are also the ones asking the questions). We take questions asked by Pa...

6 Helmi 20233h 7min

225 | Michael Tomasello on The Social Origins of Cognition and Agency

225 | Michael Tomasello on The Social Origins of Cognition and Agency

Human beings have developed wondrous capacities to take in information about the world, mull it over, think about a suite of future implications, and decide on a course of action based on those delibe...

30 Tammi 20231h 22min

224 | Edward Tufte on Data, Design, and Truth

224 | Edward Tufte on Data, Design, and Truth

So you have some information — how are you going to share it with and present it to the rest of the world? There has been a long history of organizing and displaying information without putting too mu...

23 Tammi 20231h 16min

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