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

4053.304 - 4082.13 Doyne Farmer

Yeah, definitely. One of the things I talk about in my book is what I call market ecology. The classic theory of markets that's dominated a lot of the discourse is efficient market theory. And the idea is that you can't beat the market, but also, so that's informational efficiency, but also is allocational efficiency. The allocations of effort we're making to different activities are correct.