Pitchfork Economics with Nick Hanauer cover image

Making Sense of Chaos (with Doyne Farmer)

Pitchfork Economics with Nick Hanauer

CHAPTER

Rethinking Economic Models: Complexity and Predictions

This chapter delves into the limitations of traditional economic frameworks, advocating for complexity economics to better understand real-world dynamics and decision-making. It highlights advancements in computational modeling and contrasts equilibrium with non-equilibrium approaches, especially in the wake of the COVID-19 pandemic. The discussion examines the impacts of government policies and tax structures on the economy, emphasizing the need for nuanced models that reflect societal challenges.

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