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Austrian school economics seems unheard for many. After skimming books by Mises, I believe Austrian school is on the right track. But the tool for it has not re
by LiweiZ 12y ago
Austrian school economics seems unheard for many. After skimming books by Mises, I believe Austrian school is on the right track. But the tool for it has not ready at that time. When I learned about complexity systems. I think it can supply the right tool. And just this week, I'm reading papers by W. Brian Arthur. (http://en.wikipedia.org/wiki/W._Brian_Arthur http://en.wikipedia.org/wiki/W._Brian_Arthur) Quite fascinating experience.
Another issue with economics is it has very tight connection with financial and political systems. Until some players could take advantage with those more advanced theories, a new wave of mind-sets would not emerge and widely accepted by the public. Money, power, information, control, it sounds like crazy words. When things become closer to those, you have to think harder to get closer to the reality, if you do care about it.
- rahulsidhu 12y agoThat's an interesting thought. Any papers you'd recommend in particular?
- LiweiZ 12y ago"All Systems will be Gamed: Exploitive Behavior in Economic and Social Systems" http://tuvalu.santafe.edu/~wbarthur/Papers/All%20Systems%20Gamed.pdf http://tuvalu.santafe.edu/~wbarthur/Papers/All%20Systems%20G... He has a new book with all his papers: Complexity and the Economy (http://www.amazon.com/Complexity-Economy-W-Brian-Arthur/dp/0199334293/ref=sr_1_1?s=books&ie=UTF8&qid=1424662358&sr=1-1&keywords=W.+Brian+Arthur http://www.amazon.com/Complexity-Economy-W-Brian-Arthur/dp/0...). I have not bought it yet. The preface is free to download here: http://tuvalu.santafe.edu/~wbarthur/Papers/Complexity%20&%20Economy%20Preface.pdf http://tuvalu.santafe.edu/~wbarthur/Papers/Complexity%20&%20...