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.

Support Mindscape on Patreon.

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)

6 | Liv Boeree on Poker, Aliens, and Thinking in Probabilities

6 | Liv Boeree on Poker, Aliens, and Thinking in Probabilities

Poker, like life, is a game of incomplete information. To do well in such a game, we have to think in terms of probabilities, unpredictable strategies, and Bayesian inference. These are ideas that pla...

23 Heinä 20181h 10min

5 | Geoffrey West on Networks, Scaling, and the Pace of Life

5 | Geoffrey West on Networks, Scaling, and the Pace of Life

If you scale up an animal to twice its height, keeping everything else proportionate, its volume and weight become eight times as much. Such a scaling relation was used by J.B.S. Haldane in his famous...

16 Heinä 20181h 23min

4 |  Anthony Pinn on Humanism, Theology, and the Black Community

4 | Anthony Pinn on Humanism, Theology, and the Black Community

According to atheism, God does not exist. But religions have traditionally done much more than simply proclaim God's existence: they have provided communities, promoted the arts, handed down moral gui...

12 Heinä 20181h

3 | Alice Dreger on Sexuality, Truth, and Justice

3 | Alice Dreger on Sexuality, Truth, and Justice

The human mind loves nothing more than to build mental boxes -- categories -- and put things into them, then refuse to accept it when something doesn't fit. Nowhere is this more clear than in the idea...

11 Heinä 20181h 20min

2 | Carlo Rovelli on Quantum Mechanics, Spacetime, and Reality

2 | Carlo Rovelli on Quantum Mechanics, Spacetime, and Reality

Quantum mechanics and general relativity are the two great triumphs of twentieth-century theoretical physics. Unfortunately, they don't play well together -- despite years of effort, we currently lack...

10 Heinä 20181h 12min

1 | Carol Tavris on Mistakes, Justification, and Cognitive Dissonance

1 | Carol Tavris on Mistakes, Justification, and Cognitive Dissonance

For the first full episode of Mindscape, it's an honor to welcome social psychologist Carol Tavris. Her book with co-author Eliot Aronson, Mistakes Were Made (But Not By Me), explores the effect that ...

4 Heinä 20181h 11min

Welcome to the Mindscape Podcast!

Welcome to the Mindscape Podcast!

I've decided to officially take the plunge into the world of podcasting. The new show will be called Mindscape, and will mostly consist of me talking to smart people about interesting ideas. (Occasion...

1 Heinä 201816min

Suosittua kategoriassa Tiede

tiedekulma-podcast
rss-poliisin-mieli
rss-mita-tulisi-tietaa
docemilia
rss-duodecim-lehti
rss-luontopodi-samuel-glassar-tutkii-luonnon-ihmeita
utelias-mieli
radio-antro
rss-astetta-parempi-elama-podcast
rss-lapsuuden-rakentajat-podcast
rss-lihavuudesta-podcast
rss-sosiopodi