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.


Episoder(418)

250 | Brendan Nyhan on Navigating the Information Ecosystem

250 | Brendan Nyhan on Navigating the Information Ecosystem

The modern world inundates us with both information and misinformation. What are the forces that conspire to make misinformation so prevalent? Can we combat the flow of misinformation, perhaps by lega...

18 Sep 202357min

249 | Peter Godfrey-Smith on Sentience and Octopus Minds

249 | Peter Godfrey-Smith on Sentience and Octopus Minds

The study of cognition and sentience would be greatly abetted by the discovery of intelligent alien beings, who presumably developed independently of life here on Earth. But we do have more than one d...

11 Sep 20231h 28min

AMA | September 2023

AMA | September 2023

Welcome to the September 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 P...

4 Sep 20234h 3min

248 | Yejin Choi on AI and Common Sense

248 | Yejin Choi on AI and Common Sense

Over the last year, AI large-language models (LLMs) like ChatGPT have demonstrated a remarkable ability to carry on human-like conversations in a variety of different concepts. But the way these LLMs ...

28 Aug 20231h 12min

247 | Samuel Bowles on Economics, Cooperation, and Inequality

247 | Samuel Bowles on Economics, Cooperation, and Inequality

Blog post with transcript: https://www.preposterousuniverse.com/podcast/2023/08/21/247-samuel-bowles-on-economics-cooperation-and-inequality/ Economics, much like thermodynamics, is a story of collect...

21 Aug 20231h 20min

246 | David Stuart on Time and Science in Maya Civilization

246 | David Stuart on Time and Science in Maya Civilization

You might remember the somewhat bizarre worries that swept through certain circles back in 2012, based on the end of the world being predicted by the Maya calendar. The world didn't end, which is unsu...

14 Aug 20231h 9min

AMA | August 2023

AMA | August 2023

Welcome to the August 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 Patr...

7 Aug 20233h 38min

245 | Solo: The Crisis in Physics

245 | Solo: The Crisis in Physics

Physics is in crisis, what else is new? That's what we hear in certain corners, anyway, usually pointed at "fundamental" physics of particles and fields. (Condensed matter and biophysics etc. are just...

31 Jul 20234h 22min

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