Summary of M. Mitchell Waldrop's Complexity

Get the Summary of M. Mitchell Waldrop's Complexity in 20 minutes. Please note: This is a summary & not the original book. Brian Arthur, a Stanford University professor, felt disillusioned with traditional economics, which he found static and disconnected from the dynamic complexities of real-world markets. His concept of "increasing returns" suggested that success breeds further success in certain markets, challenging the equilibrium-focused theories of conventional economics. Despite skepticism from peers, Arthur's ideas gained traction, paralleling the scientific community's broader shift towards recognizing complexity in various fields...