Complexity EconomicsW. Brian Arthur, Eric D. Beinhocker, Allison Stanger
Complexity Economics
by W. Brian Arthur, Eric D. Beinhocker, Allison Stanger · first published 2020
6mentions
3recommended by
4HN commenters
2010–2021first – last mentioned
75% recommend25% neutral
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…evolutionary algorithms to a 2-dimensional "fitness landscape") in The Origin of Wealth by Eric Beinhocker - http://www.amazon.com/Origin-Wealth-Evolution-Complexity-Eco... Absolutely phenomenal exploration of complexity economics.
on “Genetic algorithm demo: finding optimal vehicle design (in Flash)” ↗…model like its progenitor, Keynes was insightful, and that Marx's class-consciousness has merits, full understanding and remedy for present concerns must look further afield. MMT, W. Brian Arthur's complexity economics, and Steve Keen's work unifying capital, labour, class, and energy would be a good start.
on “The Covid-19 pandemic is forcing a rethink in macroeconomics” ↗…endogenous growth[2], and modeling the economy as a complex adaptive system[3]. In the end, his theories may or may not be correct, but I've learned a TON about economics from reading this book, and if the "Complexity Economics"[4] guys are right, it has some interesting implications. Personally, I suspect that the CE folks are onto something, but this book is worth reading just for the history lesson it presents, vis-a-vis…
on “Ask HN: What book changed your life in 2013?” ↗Complexity Economics I've been binging books on the topic as well as exchanging dialogs with a colleague over email. Books list: _Completed_ The Origin of Wealth: The Radical Remaking of Economics and What it Means for…
on “Ask HN: What Are You Learning?” ↗…sure what the most recent such work is. But Sugarscape was mentioned quite prominently in Eric Beinhocker's The Origin of Wealth, which paints a picture where economists who associate themselves with "Complexity Economics"[2] are more amenable to simulation. And, indeed, the description of Complexity Economics from Wikipedia reads: Complexity economics is the application of complexity science to the problems of economics.…
on “Computing the Perfect Model: Why Do Economists Shun Simulation? [pdf]” ↗…William Ophuls (esp. Ecology & Plato, and mine the hell out of his bibliogs), Bernhard J. Stern ("Resistances to Technological Innovation"), Robert Gordon (Rise & Fall), W. Brian Arthur (Technology & complexity economics), Robert U. Ayres (generally, energy & econ), M. King Hubbert, Howard & Eugene Odum, Nicholas Georgescu-Roegen (Entropy), Peter Turchin, Meadows et al, John Nicholas Gray (esp. on Pinker), Norbert Wiener…
on “Sanitation conquered disease long before vaccines or antibiotics” ↗