293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity

1970.36 - 2000.186 Doyne Farmer

If, again, that pole is the economy in a standard model, the story goes like this. I am a perfect pole balancer. So somebody knocks the pole. All right. So the pole gets knocked. I then calculate exactly how to move my hand to bring the pole smoothly to rest back at the top, maximizing consumption in the economy as I do it. And before I get to the top, somebody knocks the pole again.