The discovery of complexity

Networks are an essential ingredient in any complex adaptive system. In biology, molecules interact in cells, cells interact in organisms, organisms interact in ecosystems. As Eric D. Beinhocker points out in one of my favourite books, ‘The Origin of Wealth’: “The economic world likewise depends on networks. The earth is girdled by roads, sewers, water systems, electrical grids, railroad tracks, gas lines, radio waves, television signals and fiber-optic cables. These provide the highways and byways of the matter, energy and information flowing through the open system of the economy. The... Read The Rest →

Equilibrium and fractal business models

A fundamental law of physics (in one formulation) states that left to itself any closed system will always change towards a state of equilibrium from which no further change is possible. One example is swinging a pendulum… if you hold it up to one side it’ll be in a state of extreme disequilibrium, then as you let go and it swings back and forth, gradually losing energy, it’ll come to a standstill. Other examples include many media agencies and advertising agencies. You know why. Someone said to me today, ‘but... Read The Rest →

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