Non-Equilibrium Economics
Brian discusses the breakdown of equilibrium assumptions in economics, highlighting that while some sectors like oil markets reach equilibrium quickly, complexity economics offers insights into when equilibrium models fail in the face of varying timescales and organizational layers within an economy.In this clip
From this podcast
Mindscape Podcast
Mindscape 161 | W. Brian Arthur on Complexity Economics
Related Questions
What role does competition play in economics, as discussed in the episode Mindscape 293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity and the clip Innovation and Complexity?
What role does competition play in economics as discussed in the episode Mindscape 293 | Doyne Farmer on Chaos, Crashes, and Economic Complexity and the clip Innovation and Complexity?