COMPLEXITY

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

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May 6, 2022
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INSIGHT

Society as an Emergent System

  • Society functions as a complex emergent system with individual and collective dynamics intertwined.
  • Healthy societies enable human flourishing through dynamic arrangements beyond individual welfare alone.
INSIGHT

Limits of Economic Simplification

  • Mainstream economics simplifies the economy to stand outside it and plan interventions.
  • Digital era revives social planning dreams but faces doubts about computational feasibility and market realities.
INSIGHT

Rethinking Data Ownership

  • Data is better seen as relational social information rather than individual property.
  • Effective use requires new frameworks for access rights balancing privacy and utility.
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