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

3294.224 - 3319.913 Doyne Farmer

Well... I think it's fundamentally endogenous. And it's a challenge to model in economics. In biology, you can just say, well, innovation is randomness. You randomly change a gene. Or, OK, you have to deal with recombination, which is more complicated. But it's just a process you can specify in an algorithm. Because we have this universal biological code that everything follows.