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Eric Beinhocker & Diane Coyle on Rethinking Economics for A Sustainable & Prosperous World (EPE 02)

COMPLEXITY

CHAPTER

The Synoptic View in Economics

So diana, if you can talk a little bit please, about the synoptic view. And then e if you care to also speak to the flaws in that approach. Every discipline is trying to make sense of something tits messy and complex,. You have to simplify in some way. An economists have a very characteristic way of doing that. Its ing, its finding a parsimonious number of relationships and series of data. But there's a paralel tradition in economics of thinking about markets as very complex, emergent systems. The deeper issue is how we're conceptioalizing and thinking about the economy.

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