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July 31, 2026
Chaos and Complexity Economics (with J. Doyne Farmer)
EconTalk · J. Doyne Farmer · 65 min
Physicist J. Doyne Farmer argues that standard economic models miss what chaos theory and agent-based simulation can capture about real human behavior. Russ Roberts pushes back throughout, which keeps the conversation honest rather than one-sided. It's a genuine debate about what economics is even trying to predict.