by Summary:
Reinventing Economics with System Dynamics.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Reinventing Economics with System Dynamics.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Jeremy Smith writes UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)
Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained
Lars Pålsson Syll writes Schuldenbremse bye bye
Robert Skidelsky writes Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
| Reinventing Economics with System Dynamics. |
I think the foundation of system dynamics for economics is radically better than the algebraic system currently used. Keen’s insight, that economics should be a systems science has already proven itself out with his prediction of the 2008 financial crisis.
Totally agree with Steven.
I remember asking a econometrics lecturer about the recent theories of Non Linear Systems (cplx systems) and getting a blank face. I was treated as a heretic for asking basic questions ⁉️ such as what were the empical studies or evidence ???
Felt more like a theology class.
Driving a car via the rear view mirror. Car crashes ? They called it a science but being an engineer I knew an ology by the manner it approached questions.
In the last few years bio mimicry is very ? interesting. Plants can't relocate so how do they optimize resource allocation ????