2min chapter

Simplifying Complexity cover image

The Economy and Complexity Science: Part 2

Simplifying Complexity

CHAPTER

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.

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