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foundations were laid in Victorian times. Now it is changing radically. Standard economics is suddenly being challenged by a number of new approaches: behavioral economics, neuroeconomics, new institutional economics. One of the new approaches came to life at the Santa Fe Institute: complexity economics.
Jessica C. Flack • Worlds Hidden in Plain Sight: The Evolving Idea of Complexity at the Santa Fe Institute, 1984–2019 (Compass)
the technocrats will insulate themselves from the social and political upheaval by enclosing themselves in a sense of moral excellence complementing their technical excellence. The “outsiders” will live in a sense of desperation and anger and will also experience the shift in marriage and family but as a social crisis.
George Friedman • The Storm Before the Calm: America's Discord, the Coming Crisis of the 2020s, and the Triumph Beyond
Erik Torenberg • Markets and Communities
As a new point of view we turn to bounded rationality, a departure from the mainstream tradition. We no longer can assume that every agent is a perfect calculator. This point of view is given a great deal of emphasis by Herbert Simon. Simon argued that people do not maximize. When they’re forecasting the future, they do not perform the task of rati
... See moreJessica C. Flack • Worlds Hidden in Plain Sight: The Evolving Idea of Complexity at the Santa Fe Institute, 1984–2019 (Compass)
The answer derives from the fact that what is good for groups is not always good for the individuals comprising them. For example, both multicellular organisms and social insect colonies are functionally specialized and hierarchically organized collectives that are highly successful in maintaining and transmitting accumulated knowledge, in the form
... See moreJessica C. Flack • Worlds Hidden in Plain Sight: The Evolving Idea of Complexity at the Santa Fe Institute, 1984–2019 (Compass)
There are two kinds of people in the world. Members of more traditional communities tend to assign approximately equal importance to all three moral categories, which he calls “foundations.” But educated Westerners with progressive political views differ. They tend to assign great importance to the first foundation, fairness, and very limited impor
... See moreMoshe Koppel • Judaism Straight Up: Why Real Religion Endures
But, contrary to libertarian rhetoric, we are not monads. From birth until death, our ability to reach our goals, even to survive, is tightly linked to our social interactions with others in our society.
Herbert A. Simon • The Sciences of the Artificial
Citizens today, Schudson speculates, understand that they can’t master every issue that we ask them to opine on. Instead, they monitor a set of issues they know and care about and take action when they think they can make a difference.