Category Archives: Economics and Capitalism

Application of a complexity worldview to interpret economic policy.

Irrational Irritation

According to at least one commentator “everybody, everywhere” is “upset over the economy.” It may be true, although the article actually shows that only Republicans and older people are actually angry. But no sane person should be angry at the … Continue reading

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Disaster Afoot?

Flooding in Pakistan, smoldering peat fires in Russia shrouding Moscow in thick smoke, and drought in Europe. Is this what climate change looks like? US income inequality growing, profits rising as a share of national income, unemployment staying high, the … Continue reading

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Reduce the Cost of Banking

In a column in the Financial Times, John Kay comments that the financial innovations that were much lauded in the 1990s and that contributed to the 2008 financial meltdown were designed to manage risks that it caused. They do nothing … Continue reading

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Malefactors of Great Power

On this 234th celebration of the Declaration of Independence, it is appropriate to look at what the Founding Fathers left out of their declaration and the subsequent constitution. Today we need protections against new Malefactors of Great Power. The US … Continue reading

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Thaler Agrees

The noted professor of economics and behavioral science at the University of Chicago agrees with our post “Too Complex to Govern.” See his comments in the New York Times about complexity in various modern social systems. As Thaler comments: “Neither … Continue reading

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Too Complex to Govern

The Gulf Spill raises the question: Are some activities are too complex to govern effectively? The technology needed to drill a mile below the surface of the sea is, by itself, not complex. It may be complicated but because it … Continue reading

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