Economyths: How the Science of Complex Systems Is Transforming Economic Thought

Economyths: How the Science of Complex Systems Is Transforming Economic Thought

by David Orrell
     
 

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The revolution in economics

Ever since it was invented, mainstream economics has been dominated by a linear, mechanistic system of thought inspired by Newtonian mechanics.

That is about to change.

In Economyths, mathematician David Orrell shows how new ideas from areas such as complexity theory and network science are revolutionising economics.

He explains

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Overview

The revolution in economics

Ever since it was invented, mainstream economics has been dominated by a linear, mechanistic system of thought inspired by Newtonian mechanics.

That is about to change.

In Economyths, mathematician David Orrell shows how new ideas from areas such as complexity theory and network science are revolutionising economics.

He explains how the economy is the result of complex, nonlinear network processes; shows why the mathematical models used by banks and policymakers actually make the world more risky; explores the paradoxical relationship between money and happiness; argues that the financial system is better seen as an organic process than a machine; and finally, shows how science is helping to reinvent economics for the 21st century.

Product Details

ISBN-13:
9781848312197
Publisher:
Icon Books, Ltd. UK
Publication date:
03/28/2012

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