Human Centered The Complexity Economist - W. Brian Arthur
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Mar 5, 2020 W. Brian Arthur, a leading economist and complexity theorist, delves into the intricate ties between technology and the economy. He discusses how technological innovations are often driven by functional needs, not just creative sparks. The conversation also highlights how geographic concentration can boost creativity and collaboration, as seen in places like Silicon Valley. Arthur explores the future of economies shaped by automation and the pressing need to address wealth concentration and collective responsibility. His insights bridge complexity with real-world implications.
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Combinatorial Evolution of Technology
- W. Brian Arthur's work explores how technologies evolve through combination, not solely variation and selection.
- New technologies emerge by combining existing ones, similar to how we construct sentences from existing words and phrases.
Technologies Serving Technologies
- While acknowledging the social construction of some technologies, Arthur emphasizes that most are invented to serve other technologies.
- He cites examples like radar technology and women's bicycles to illustrate this point.
Role of Place in Innovation
- Geographic concentrations of experts foster technological innovation by facilitating problem-solving and knowledge sharing.
- Arthur highlights the importance of local expertise and understanding of both successes and failures.