The Economy and Complexity Science: Part 2
Simplifying Complexity
Increasing Returns
The physicists all got that because they were dealing with models that had plenty of positive feedbacks. The economics at that time and still largely now theoretical economics made a number of assumptions. They assumed all players in the market were identical. So I was appalled but felt like standing up and cheering because I didn't believe it I thought.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
