If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to look at cognition itself, something we have never done before in economics.
If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to lo… - W. Brian Arthur
If economics wants to understand the new economy, it not only has to understand increasing returns and the dynamics of instability. It also has to lo…
- W. Brian Arthur
When you mathematize something you distill its essence. - W. Brian Arthur
When you mathematize something you distill its essence.
We're facing a danger that economics is rigorous deduction based upon faulty assumptions. Science after science gets that way from time to time. When… - W. Brian Arthur
We're facing a danger that economics is rigorous deduction based upon faulty assumptions. Science after science gets that way from time to time. When…
Complexity is looking at interacting elements and asking how they form patterns and how the patterns unfold. It's important to point out that the pat… - W. Brian Arthur
Complexity is looking at interacting elements and asking how they form patterns and how the patterns unfold. It's important to point out that the pat…
The invisible hand is not perfect. Indeed, the invisible hand is a little bit arthritic ... I'm a believer in free markets, but I think we need to be… - W. Brian Arthur
The invisible hand is not perfect. Indeed, the invisible hand is a little bit arthritic ... I'm a believer in free markets, but I think we need to be…
Economists got away from really questioning how the world works, how decisions actually got made. If something doesn't conform to neoclassical models… - W. Brian Arthur
Economists got away from really questioning how the world works, how decisions actually got made. If something doesn't conform to neoclassical models…
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