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Money is scale: Larger scales can ignore small impacts. The poorer you are, the greater the complexity. The wealthier you are, the lower the complexity.
Example: How much money can you loose before you care? $0.1, $1, $10, $100, $1,000, $10,000 ...
Example #2: FU money, and generally being able to chose who to interact with.
For those who want a more technical discussion: Kinetic energy (how fast something is moving) is also scale, potential energy is a kind of potential scale, e.g. in gasoline and other energy sources. Money in society is a construct with potential scale.
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Yaneer Bar-Yam
@yaneerbaryam
Levels of complexity thinking:
0) Using statistical / calculus assumptions*
1) Recognizing stat/calc assumptions are often wrong! See: Dependencies, Extreme events, Nonlinearity, High dimensionality, Indirect effects, Unintended consequences, … 1/
2) Using a different set of assumptions: Network, Agents, Fat tails, … (People generally choose one: I.e. hammer looking for nail).* 2/
3) Recognizing all assumptions are sometimes valid (universality classes). Identify the right assumptions for this situation using Patterns, Possibilities, Multiscale analyses. 3/
Read 5 tweets

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Santa Fe Institute
@sfiscience
SFI President David Krakauer introduces our annual board of trustees symposium on New #Complexity #Economics - follow this thread for live coverage of talks by @EricBeinhocker @AKStanger @ole_b_peters @JacksonmMatt @cmoncap & W. Brian Arthur today...
"I think we have to be aware that we're not just discussing financial systems. We are discussing the future of the stability of the planet."

- David Krakauer
on #Complexity #Economics
"What is the #economy? I would argue that it doesn't exist in the physical world. It is a product of our #imagination. It is made out of #ideas. It does have an effect on the physical world. But the imagined order that we have is not succeeding."

- @EricBeinhocker
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Yorick de Mombynes
@ydemombynes
My 140 favorite quotes from The Ethics of Money Production (2008), by Jörg Guido Hülsmann
1. “#Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment”. J.G.Hülsmann
2. “To be sure, central bank representatives are lecturing the public on the importance of business #ethics; but their concerns do not seem to apply to themselves”. J.G.Hülsmann
Read 142 tweets
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Sanjeev Sanyal
@sanjeevsanyal
#Complexity Theory: One of the many non-intuitive implications of this approach is that the more complex a problem, the simpler the solution must be. Unintended consequences & butterfly effects render complicated solutions unworkable within a few steps 1/n
The conventional approach is that India is a complex country that requires complex solutions. Complexity theory implies exactly the opposite. Only simple policies, frameworks and institutions can function in India. Leave complex solutions to Singapore 2/n
Another implication of Complexity theory is the 80:20 rule (or some version of it). A 20% solution will often solve 80% of the problem. In many situations, one should leave it at that as further interventions will have unintended consequences & render the system unworkable 3/n
Read 14 tweets
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Nassim Nicholas Taleb
@nntaleb
1) Antifragile on health of bones: bones are part of the endocrine system, not some engineering structure.

You don't improve your bone with exercise machine.

@Mangan150 attributes the fertility crisis to correlative (Om 6), not causative (osteopenia)

#Complexity
#ICCS2018
2) The bone also regulates memory and mental functions via osteocalcin (Karsenty).

SPECULATION: can healthier bones for overweight pple explain the all-cause-mortality effect?

POLICY: just follow the phenomenology that healthy pplw have healthy bones and ignore mechanisms?
3) We know that osteocalcin restores muscle endurance. Muscles strength are less investigated.

Again fughedabout mechanisms, take phenomenology: @CoachRippetoe reports that only heavy weight bearing exercises you do standing up count.
Read 3 tweets
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Christian Blauvelt
@ctblauvelt
Before I shut down for the holidays, a few thoughts on #StarWars #TheLastJedi.. Where to begin? Well, to start, it’s the first blockbuster I can remember that demands you scan all edges of the frame. A wide screen has rarely been used this dynamically.
Not to get all David Bordwell on you guys but most blockbusters still do center their action in the middle of the frame regardless of the widescreen format, so what Rian Johnson does is incredible - worthy of Kurosawa, Tati, Preminger, film's masters of widescreen aesthetics.
Then you have the story, a brilliant deconstruction of mythic tropes many #StarWars fans have taken for granted. Johnson’s film says, quite explicitly, that maybe the Jedi weren’t that great, that we can build people and groups up into legends - and maybe legends are overrated.
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