The power of networks in complexity science

Networks play a crucial role in understanding complexity. They consist of interacting agents and can be found in various settings, such as friendship groups, workplaces, or online communities. The podcast introduces Matthew Jackson, an economics professor, who explores the influence and power dynamics within networks using the historical example of Cosmo Dimitichi in 15th-century Florence. The ruling power in Florence was determined by a consensus among different influential families. Despite not being the wealthiest family, the Medici family emerged as a powerhouse due to their extensive network connections. Through repeated business dealings and strategic marriages, they built strong relationships, positioning themselves at the center of a star-shaped network. This central position allowed them to broker information and favors, gaining power and ultimately becoming leaders.