COMPLEXITY cover image

COMPLEXITY

David Krakauer on Emergent Political Economies and A Science of Possibility (EPE 01)

Apr 21, 2022
52:57

Podcast summary created with Snipd AI

Quick takeaways

  • Embracing multidimensional causality challenges traditional economic perspectives, moving beyond linear regression to understand complex systems.
  • Reconciling individual moral beliefs with institutional mechanics in political economy emphasizes evidence-based, multifaceted perspectives to address inequalities.

Deep dives

The Importance of Embracing Complexity in Economic Modeling

Embracing the complexity of multidimensional causality in economic modeling is crucial, challenging the traditional one-dimensional perspectives. The podcast discusses the need to move beyond linear regression and embrace complex causality. Figures like Carna Hausman and Cesar Hidalgo have developed intricate product spaces to understand trade better, forfeiting some transparency to integrate complex causality effectively.

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