Modeling Economic Shocks in Crisis

Welcome to The Orthogonal Bet, an ongoing mini-series that explores the unconventional ideas and delightful patterns that shape our world. Hosted by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Samuel Arbesman⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

In this episode, Sam speaks with J. Doyne Farmer, a physicist, complexity scientist, and economist. Doyne is currently the Director of the Complexity Economics program at the Institute for New Economic Thinking at the Oxford Martin School and the Baillie Gifford Professor of Complex Systems Science at the Smith School of Enterprise and the Environment at the University of Oxford.

Doyne is also the author of the fascinating new book “Making Sense of Chaos: A Better Economics for a Better World.”

Sam wanted to explore Doyne’s intriguing history in complexity science, his new book, and the broader field of complexity economics. Together, they discuss the nature of simulation, complex systems, the world of finance and prediction, and even the differences between biological complexity and economic complexity. They also touch on Doyne’s experience building a small wearable computer in the 1970s that fit inside a shoe and was designed to beat the game of roulette.

Produced by ⁠⁠CRG Consulting⁠⁠

Music by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠George Ko⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ & Suno