For a long time Brian knew he wanted to do research or go into science. He always had this dream it was not very reachable and so I thought well some other lifetime maybe I'll be born at exactly the right time in the right place. But then 10 years ago after being originally in Santa Fe I realized oh my god I have been in Goethean or the Cavendish when these deep changes were entering the social sciences and economics. Not only was I there but I was one of the conspirators who caused all that. So I feel I've been extremely lucky being in Santa Fe at the right time.
In our last episode, we heard from W. Brian Arthur, who shared his journey in economics as he studied increasing returns. Now, Brian's going to take us to 1987, to a small meeting in the Rockies in Santa Fe. At this time, he was struggling to gain recognition for his work within the economics community, but it was when Brian went to what would become the Santa Fe Institute that things really kicked off.
In this episode, you're going to hear again from W. Brain Arthur, External Professor at the Santa Fe Institute, and Researcher at Palo Alto Research Center, as he remembers the early days of the Santa Fe Institute. From the early meetings of economists, physicists, and a biologist that started it all, to an early model Brian built of a stock market that was unique to any models before it — because this model included booms and busts.
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