In general, we don't expect that from other systems like the economy. These things take time to show up in a way that we could understand. Sometimes we're already tipped over, but we don't even know it yet. It just takes a bit of time for the things that we can actually observe to catch up with the fundamental, almost transformational, radical change That's happened under the hood, so to speak.
A fascinating property of a system's behaviour is its ability to change, and change quickly. For example, how does an economy go from boom to bust so suddenly and unpredictably? That is to say, how does it 'tip' from one behaviour to another? What are these tipping points, and are they really as unpredictable as they seem?
In today's episode, we speak to Tyler Marghetis, Assistant Professor of Cognitive and Information Sciences at the University of California Merced. He pulls apart the underlying reasons why the behaviour of a complex system can radically change. He also poses the question, can you tell when a system is about to tip?
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This show is produced in collaboration with Wavelength Creative. Visit wavelengthcreative.com for more information.