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#4 – Doyne Farmer: Chaos Theory & Complexity Economics

Scaling Theory

NOTE

Evolution towards Complexity Economics Dominance

Achieving dominance of complexity economics over other approaches in economics will require a shift in people's views and acceptance of quantitative agent-based models as the standard for prediction. While ensuring the dominance of complexity economics cannot be guaranteed, in the next 30 years, there is a likelihood that these models will become widely accepted and utilized, potentially even leading to the establishment of new departments that focus on economic engineering.

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