The division of knowledge increases with specialization and trade. Economic growth in the modern era is primarily due to the creation of new knowledge. Thus, one of the most momentous turning points in the division of knowledge happens when trade is extensive enough to support large numbers of scientists, engineers, and entrepreneurs, all of whom s

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In complexity economics, agents differ and in general lack full knowledge of each other and of the situation they are in. Fundamental uncertainty is therefore the norm; ill-defined problems are the norm; and rationality is not necessarily well defined. Agents explore and learn and adapt and open to novel behavior. Outcomes may not be in equilibrium

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The economy is thus comprised of evolving networks of interacting agents, institutions, and technologies—networks of networks. The macro- level patterns of the economy—growth, innovation, business cycles, market booms and busts, inequality, and carbon emissions—then emerge from these dynamic micro- and meso-level interactions. From the complexity e

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