The Jim Rutt Show
@jimruttshow·4.4K subscribers·597 videos
EP 305 J. Doyne Farmer on Complexity Economics
Posted
June 20, 2025
Views
303
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6
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June 20, 2025
303
6
1
2.31%
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1:22:22Now PlayingClick here for full show notes including episode mentions & recommendations!
Jim talks with J. Doyne Farmer about his book Making Sense of Chaos: A Better Economics for a Better World. They discuss deterministic chaos & strange attractors, how chaos makes time possible, bounded rationality, economic equilibrium & Nash equilibrium, traditional economics' failures, standard economic theory basics, "as if" vs "as is" approaches, heterogeneity in economic systems, agent-based modeling & its critiques, the "metabolism of civilization" analogy, financial markets as an ecology of strategies, the Prediction Company experience, climate economics, weather forecasting as an analogy for economic forecasting, energy investment modeling, technology cost curves & climate change solutions, the vision of a "conscious civilization," and much more.
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