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Doyne Farmer, a prominent figure in complexity economics, discusses his journey from chaos theory to economics. He emphasizes the importance of multidisciplinary work and applying complexity science to climate change. The conversation delves into the development of agent-based models for the economy and the challenges in predicting economic impacts, such as during the COVID pandemic.
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- Transition from chaos theory to complexity economics highlights importance of multidisciplinary research.
- Chaos theory's dual nature and unpredictability relate to real-world systems like the weather.
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Dine Farmer's Journey from Chaos Theory to Complexity Economics
Dine Farmer, a prominent figure in complexity economics, shares his journey from being involved in the formation of chaos theory to his current focus on complexity economics. He discusses the transition from chaos theory to complexity science and eventually to complexity economics, highlighting the importance of multidisciplinary research and the implications for addressing challenges like climate change. Farmer reflects on his early days experimenting with predicting roulette outcomes using physics, which laid the foundation for his work in understanding chaotic and complex systems.
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Listen to the best highlights from the podcasts you love and dive into the full episode