Complexity and Economics Video

How can complex systems thinking be applied to economic activity? In this pair of introductory videos Max and Carly Borders give a simple account of the basics that takes us from the simplest system of two nodes (in this system also known as ‘people’) interacting up to societies made up of millions exchanging value. At the heart of the presentation is the contrast between hierarchies of command and control and networks of free exchange. There’s much left unsaid in this video, of course, such as problems in free market systems like boom and bust, or the rather slippery concept of ‘harm’, but on the whole it provides a clear account of standard thinking.