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The Economy and Complexity Science: Part 1

Simplifying Complexity

CHAPTER

Economists Are Trying to Get the Basics Right

I think economics was quite sensible in that it was trying to get the basics right. Economists relied very heavily on a concept called diminishing returns. Diminishing returns means the more you do of something, either the harder it gets or the more adverse it gets. And I think this is very right and correct.

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