Sublime

we will assume that agents will seek to maximize their average resource growth rate over many cycles of choice

Rather, after a simulation is run a thousand or a million times, such models show policy makers the range of possible futures and their relative probabilities if policies remain unchanged. Then, by altering policies in the model and running them another million times, we might begin to understand paths to better futures.

They appear to want some of the same things most of us want: recognition from their peers and communities and better lives for the people they care about. Being

that people—or, if you like, automata, algorithms—can and do act in situations that are not well defined.

To see how complexity economics works, think of the agents in the economy—consumers, firms, banks, investors—as buying and selling, producing, strategizing, and forecasting. From all this behavior markets form, prices form, trading patterns form: aggregate patterns form. Complexity economics asks how individual behaviors in a situation might react

complexity economics replaces ‘as-if’ reasoning with ‘as-is’ reasoning, providing

If he had a unifying principle, politically and economically, it is what we have said: that concentrated power in any form is dangerous, that institutions should be built to human scale, and society should pursue human ends. Every institution, public and private, runs the risks of taking on a life of its own, putting its own interests above those o

free-market capitalism that functions best only when governments provide a stable base of rules and a neutral monetary policy,