22min chapter

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas cover image

293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas

CHAPTER

Complexity and Innovation in Economics

This chapter explores the intersection of evolutionary biology and economics, focusing on how complexity arises in both fields. It discusses the contrasting nature of competition in biological versus economic systems and the implications of modeling innovation. Additionally, it emphasizes the need for complexity economics in understanding market behavior and preventing financial crises.

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