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)

308 | Alison Gopnik on Children, AI, and Modes of Thinking

308 | Alison Gopnik on Children, AI, and Modes of Thinking

We often study cognition in other species, in part to learn about modes of thinking that are different from our own. Today's guest, psychologist/philosopher Alison Gopnik, argues that we needn't look ...

17 Maalis 20251h 9min

AMA | March 2025

AMA | March 2025

Welcome to the March 2025 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...

10 Maalis 20252h 58min

307 | Kevin Peterson on the Theory of Cocktails

307 | Kevin Peterson on the Theory of Cocktails

A lot of science goes into crafting the perfect cocktail. Balancing sweet and bitter notes, providing the right amount of aeration and dilution, getting it to just the right temperature and keeping it...

3 Maalis 20251h 16min

306 | Helen Czerski on Our Energetic Oceans

306 | Helen Czerski on Our Energetic Oceans

It is commonplace to refer to the Earth's oceans as vast and largely unexplored. But we do understand some aspects, and improving that understanding is crucial to ensuring the continued viability and ...

24 Helmi 20251h 12min

305 | Lilliana Mason on Polarization and Political Psychology

305 | Lilliana Mason on Polarization and Political Psychology

Political outcomes would be relatively simple to predict and understand if only people were well-informed, entirely rational, and perfectly self-interested. Alas, real human beings are messy, emotiona...

17 Helmi 20251h 17min

Bonus | Cuts to Science Funding and Why They Matter

Bonus | Cuts to Science Funding and Why They Matter

The Trump administration, led by Elon Musk and his Department of Government Efficiency, has proposed sweeping cuts to spending on science research here in the US, in particular at the National Institu...

12 Helmi 20251h 10min

304 | James Evans on Innovation, Consolidation, and the Science of Science

304 | James Evans on Innovation, Consolidation, and the Science of Science

It is a feature of many human activities - sports, cooking, music, interpersonal relations - that being able to do them well doesn't necessarily mean you can accurately describe how to do them well. S...

10 Helmi 20251h 16min

303 | AMA | February 2025

303 | AMA | February 2025

Welcome to the February 2025 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...

3 Helmi 20253h 44min

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