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Eric Beinhocker & Diane Coyle on Rethinking Economics for A Sustainable & Prosperous World (EPE 02)

COMPLEXITY

CHAPTER

Is the Scale Wrong?

Economics has a long tradition of thinking of the economy as a self stabilizing system. Tian: As networks grow, both in scale and complexity, these interdependencies can become too much to cope with. And so even though the macro trend has been increasing scale of cooperation over very long periods of time, that we do have these periods of collapse and retrenchment and unravelling as well.

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