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by jacques_chester
5301 days ago
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> It staggers me that so much prevailing thought still leans towards the idea of complex, highly connected systems as inherently stable, with their natural state as equilibrium. I think it's more that 1. Systems that spin irreversibly out of equilibrium usually fall apart and so are not observed; and 2. For a long time, there was a dearth of mathematical tools for dealing with complex or chaotic systems. Most attacks on economists about believing in this or that $obviously_ridiculous_belief are strawmen, giving credit neither for the subtleties of the actual concepts nor the self-awareness of economists themselves. |
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