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

COMPLEXITY

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Human Flourishing & Welfare: The Individual View and the Complexity/Systems View

The classical liberal tradition emphasized the idea of moral equality, stating that every human life is of equal value. However, extreme libertarians overlook the fact that society is not just a linear sum of individual happiness and rights. The complexity/systems view suggests that society also has emergent properties, leading to the creation of healthy or unhealthy societies, which significantly impact individual lives and opportunities. Therefore, society welfare and individual welfare are interconnected in a dynamic, emergent system, shaping arrangements that enable human flourishing.

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