Again, it's the complexity, stupid.
Using ergodic equilibrium models to model complex adaptive systems is not only a methodological mistake, it is the basis of special pleading and propaganda with respect to policy formulation. As long as we rely on neoclassical economics to inform policy, we are so screwed. It's giving the key to the treasury to the thieves.
Stumbling and Mumbling
Inequality, Evolution & Complexity
Chris Dillow | Investor's Chronicle (UK)
No comments:
Post a Comment