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

Doyne Farmer is a renowned thinker on technological change who has written a book on complexity economics. He argues that we can use big data and powerful computers to create realistic models of the global economy and test ideas to make better economic predictions, ultimately creating a better world.

Format: Hardback
Length: 384 pages
Publication date: 25 April 2024
Publisher: Penguin Books Ltd

Doyne Farmer, a renowned expert in technological change, has dedicated decades to understanding how we can analyze today's data to predict the future direction of the world. In his groundbreaking book, "Making Sense of Chaos," Farmer applies these insights to economics, addressing critical global issues such as environmental sustainability, human well-being, and global prosperity.

The world we inhabit today is characterized by unprecedented complexity, driven by rapid technological advancements and global interconnectedness. While these developments offer immense opportunities, they also pose significant risks. Financial crises, climate change, automation, growing inequality, and polarization are all interconnected economic challenges that traditional economic predictions fail to address adequately.

Farmer's book stands out as a pioneering work in chaos and complexity theory. It is the first in his own words, presenting a manifesto for doing economics better. Through a captivating blend of science and personal anecdotes, Farmer elucidates how to harness the power of a scientific revolution to address the complex economic dilemmas facing society. By leveraging big data and advanced computing capabilities, he demonstrates how we can apply complex systems science to economic activity, creating realistic models of the global economy.

These simulations and the emergent behavior they reveal form the foundation of complexity economics, a new scientific discipline that aims to improve economic predictions and ultimately create a better world. Farmer argues that by embracing this approach, we can test ideas and make significantly more informed decisions, leading to more sustainable and equitable economic outcomes.

In conclusion, "Making Sense of Chaos" is a thought-provoking and visionary book that offers a fresh perspective on economics. By applying chaos and complexity theory to economic analysis, Farmer provides a roadmap for addressing the world's most pressing economic challenges and creating a more prosperous and sustainable future. This book is a must-read for policymakers, business leaders, and anyone interested in understanding the complex dynamics of the modern economy.

Weight: 604g
Dimension: 242 x 160 x 33 (mm)
ISBN-13: 9780241201978