Making Sense of Chaos - A Better Economics for a Better World

Explore the groundbreaking field of complexity economics in this 1 hour 38 minute lecture from the Santa Fe Institute. Delve into how complex-systems science can be applied to economic activity, creating realistic models of the global economy. Discover how these new simulations and emergent behaviors form the foundation of complexity economics, a scientific revolution that promises better economic predictions and solutions to pressing global issues. Follow Doyne Farmer, Director of Complexity Economics at the Institute for New Economic Thinking, as he weaves together scientific insights with personal anecdotes to explain the origins and potential of this new approach. Learn about the applications of complexity economics in addressing financial stability, sustainability, and technological change. Gain insights from Farmer's diverse background, including his work in quantitative trading and pioneering efforts in wearable computing. Join John Geanakoplos, James Tobin Professor of Economics at Yale University, as he contributes his expertise to the discussion. Understand how this new science, rooted in research from the Santa Fe Institute, aims to tackle economic conundrums and create a better world in an age of increasing complexity and global interconnection.