A theoretical physicist on why equilibrium models in economics are BS. It's the complexity, stupid.
Bloomberg
The Insupportable Equilibrium of Economic Thought
By Mark Buchanan | author of “The Social Atom: Why the Rich Get Richer, Cheaters Get Caught and Your Neighbor Usually Looks Like You.” This is the first in a series of three excerpts from his new book, “Forecast: What Physics, Meteorology and the Natural Sciences Can Teach Us About Economics,” to be published March 26 by Bloomsbury.
(h/t Ryan Harris in the comments)
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