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Prigogine realized that although Boltzmann’s theory was correct, it did not apply to what we observe on Earth because our planet is an out-of-equilibrium pocket inside a larger system—the universe—that is moving toward equilibrium.
Cesar Hidalgo • Why Information Grows: The Evolution of Order, from Atoms to Economies
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)
So what is the potential that out-of-equilibrium systems such as our bathtub whirlpool minimize?
Cesar Hidalgo • Why Information Grows: The Evolution of Order, from Atoms to Economies
1. fragile , unable to withstand even small perturbations,
2. robust , keeping its structure intact even under large perturbations, or
3. antifragile , improving its behavior under (certain kinds/amoun... See more
Understanding Living Systems
Can the fundamental nature of matter really be lawlessness? Can the stability and order of the world be but a temporary dynamic equilibrium achieved in a corner of the universe, a short-lived eddy in a chaotic current?
Liu, Cixin • The Three-Body Problem
Complexity Economics: Proceedings of the Santa Fe Institute's 2019 Fall Symposium
W. Brian Arthur, Eric D. Beinhocker,
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Understanding Living Systems
The Logic of Chance: The Nature and Origin of Biological Evolution (FT Press Science)
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