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Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas

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

Mon, 21 Oct 2024

Description

A large economy is one of the best examples we have of complex dynamics. There are multiple components arranged in complicated overlapping hierarchies, out-of-equilibrium dynamics, nonlinear coupling and feedback between different levels, and ubiquitous unpredictable and chaotic behavior. Nevertheless, many economic models are based on relatively simple equilibrium principles. Doyne Farmer is among a group who think that economists need to start taking the tools of complexity theory seriously, as he argues in his recent book Making Sense of Chaos: A Better Economics for a Better World.Support Mindscape on Patreon.Blog post with transcript: https://www.preposterousuniverse.com/podcast/2024/10/21/293-doyne-farmer-on-chaos-crashes-and-economic-complexity/J. Doyne Farmer received his Ph.D. in physics from the University of California, Santa Cruz. He is currently Director of the Complexity Economics program and Baillie Gifford Professor of Complex Systems Science at the University of Oxford, External Professor at the Santa Fe Institute, and Chief Scientist at Macrocosm. He was the founder of the Complex Systems Group in the Theoretical Division at Los Alamos National Laboratory, and co-founder of The Prediction Company.Web siteOxford web pageGoogle Scholar publicationsAmazon author pageWikipediaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Full Episode

00:00 - 00:11 Sean Carroll

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00:11 - 00:28 Sean Carroll

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00:28 - 00:47 Sean Carroll

Listeners of Mindscape will get a $75 sponsored job credit to get your jobs more visibility at Indeed.com slash Mindscape. Just go to Indeed.com slash Mindscape right now and support our show by saying you heard about Indeed on this podcast. That's Indeed.com slash Mindscape. Terms and conditions apply. Need to hire? You need Indeed.

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00:49 - 01:06 Georgetown

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00:00 - 00:00 Georgetown

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00:00 - 00:00 Georgetown

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00:00 - 00:00 Klaviyo

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00:00 - 00:00 Klaviyo

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00:00 - 00:00 Sean Carroll

Hello, everyone, and welcome to the Mindscape Podcast. I'm your host, Sean Carroll. Usually in these intros to the episodes, I will start with some big picture kind of question, narrow it down a little bit, and then eventually introduce the speaker who we're going to talk to during the course of the episode. It's ideas first and speaker second.

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