Possible Insight

Who's Curious About the Financial Crisis?

with one comment

So as not to waste my expensive schooling, I still keep up with economics as a hobby.  I don’t expect other people to generally share this interest, but it occurred to me that the current financial crisis is an excellent example of what happens when a complex adaptive system experiences a shock.  Is anybody curious to have us discuss this topic?  If so, what is specifically interesting to you?  My short answer is to read everything by Arnold Kling at EconLog.  Of course, I have a lot more thoughts if anyone wants to hear them.

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Written by Kevin

September 29, 2008 at 9:15 pm

One Response

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  1. Yes, please, let’s hear your thoughts! I may even have some of my own to add 🙂 I like your start though about shocking a CAS. I think in this case it’s a system that’s closer to the chaotic regime than the static regime and so seemingly small effects can amplify via information cascades. Contrast this with more complex systems that straddle the apex between chaos and stasis. in which a shock is dealt with more robustly via a variety of mechanisms, including self-repair, immunity, self-defense, offensive strikes, harm-avoidance, and many more.

    rafefurst

    September 30, 2008 at 5:15 pm


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