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Balancing control and chaos: cybernetics, fraud, and modern organizations with Dan Davies
Complex Systems with Patrick McKenzie (patio11)
Cybernetics and Organizational Dynamics
17min Snip
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This chapter investigates the foundations of cybernetics, tracing its origins to Norbert Wiener's work in the 1940s and its implications for understanding organizations as technical rather than social entities. It discusses the evolution of information theory, the concept of requisite variety, and how these ideas compare with economic principles in managing complexity within organizations. The chapter also scrutinizes the shortcomings of current financial markets in handling modern economic dynamics, raising questions about the effectiveness of traditional command and control frameworks in today's complex systems.
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