Making Sense of Chaos

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What to expect

Brought to you by Penguin.

‘Doyne Farmer is the world's leading thinker on technological change. For decades he has focused on the question of how we can make sense of the data of today to see where the world is going tomorrow. This wonderful book applies these insights to economics, addressing the big global issues of environmental sustainability, and the well-being and prosperity of people around the world’ Max Roser, Founder of Our World in Data

We live in an age of increasing complexity, where accelerating technology and global interconnection hold more promise – and more peril – than any other time in human history. As well as financial crises, issues around climate change, automation, growing inequality and polarization are all rooted in the economy, yet standard economic predictions fail us.

Many books have been written about Doyne Farmer and his pioneering work in chaos and complexity theory. Making Sense of Chaos is the first in his own words, presenting a manifesto for doing economics better. In a tale of science and ideas, Farmer fuses his profound knowledge with stories from his life to explain how to harness a scientific revolution to address the economic conundrums facing society.

Using big data and ever more powerful computers, we can for the first time apply complex systems science to economic activity, building realistic models of the global economy. The resulting simulations and the emergent behaviour we observe form the cornerstone of complexity economics. This new science, Farmer shows, will allow us to test ideas and make significantly better economic predictions – and, ultimately, create a better world.

© J. Doyne Farmer 2024 (P) Penguin Audio 2024

Critics Review

After 2008, everybody except conventional economists seemed to realise that conventional economics is failing us. I applaud this bold and exciting new approach, born out of the 21st century rather than the 19th. It’s about time!
Brian Eno
In this riveting book, Doyne Farmer profoundly unravels the role played by complex systems in our economy. From the time he was living in a tent while working on climate models on the American west, to his more recent years in the hallowed halls of Oxford University, Farmer’s lifelong journey is a testament to the creativity and perseverance needed to succeed in the rugged landscapes of multidisciplinary science
César Hidalgo, author of Why Information Grows
I can't think of a better person to help us make sense of chaos than one of the founders of the field of chaos theory, J. Doyne Farmer. A physicist by training, but with plenty of financial and economic street cred, Farmer takes on the formidable task of making complexity economics understandable, fascinating, and fun. And he succeeds!
Andrew W. Lo, author of Adaptive Markets
Standard economics has failed us when it comes to the challenge of climate change, and in this remarkable book Doyne Farmer explains why--and shows that a more complex understanding of how economies work yields insights that can help us see, and build, a workable future. Farmer's insights are more general, extending to all kinds of realms; indeed, it's exciting to sense the intellectual ground being broken here. But it's also of the highest practical importance; heeding his thoughtful counsel offers a path out of the box canyon where we're currently stuck as a species
Bill McKibben, author of The End of Nature
Our greatest challenges, such as climate change, force us to move beyond linear thinking to grapple with their complexities. Doyne Farmer’s book shows us how to do so, bringing some clarity to the chaos. I gobbled it up – I hope it gets into the hands (and heads) of those who want to understand our most pressing problems and work towards solving them
Hannah Ritchie, author of Not the End of the World

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