Simplifying Complexity cover image

The Economy and Complexity Science: Part 1

Simplifying Complexity

NOTE

Embracing Random Process Over Static Analysis

Economists historically disregarded the concept of increasing returns due to the complexity of multiple possible outcomes. By shifting focus to a random process rather than a static one, one can analyze small random events and use the theory of random processes to understand outcomes better.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner