W. Brian Arthur | Complexity Economics, Complexity Science, and Chaos Theory

In Episode 7 of Hidden Forces, host Demetri Kofinas speaks with one of the pioneers in complexity science, W. Brian Arthur. Brian Arthur has long been associated with the Santa Fe Institute, having served on its board of trustees and its board of science. He has been described by Fortune Magazine, as "one of the country's leading economic thinkers," and he is best known for his pioneering work on the operation of high-technology markets. He is the author of numerous papers and books, including The Nature of Technology: What it is and How It Evolves, and Complexity and the Economy, a collection of papers on economics and financial markets examined from the perspective of complexity theory. In this episode, Brian Arthur educates us on the emerging fields of complexity science and chaos theory. The history of complexity science is replete with the works of mathematicians, physicists, philosophers, ecologists, and biologists. It is a field defined by the imperfections of the natural world. In this conversation, Demetri and Brian Arthur stray far from equilibrium. They cover the booms and the busts of Joseph Schumpeter. They examine the information-laden price signals of Friedrich Hayek. They circle the chaotic orbits of Joseph Ford. They scale the infinite fractals of Benoit Mandelbrot. Demetri asks Brian Arthur about information theory, cryptography, and quantum potentiality, while examining the mystery of why markets and life are so volatile. Producer & Host: Demetri Kofinas Editor: Connor Lynch Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod