Can economics help us create a sustainable future? Our guest is Doyne Farmer, Director of the Complexity Economics Programme at Oxford University. Trained as a physicist, he’s spent his career studying chaos, complex systems, and prediction, and now applies those ideas to economics, sustainability, and climate change. In this episode, we’ll talk about why traditional economic models often fail, how complexity economics gives us new tools to understand markets, and what agent-based models and heterogeneity can teach us about the real economy. We’ll look at chaos, business cycles, and equilibrium, and draw surprising parallels between biology, supply chains, and innovation.

Guest info:

Website: https://www.doynefarmer.com/

Bluesky: https://bsky.app/profile/doynefarmer.bsky.social

Episode links:

Website: https://reasonwithscience.com/

Youtube: https://youtu.be/i7T-1m7s2rY

Spotify: https://open.spotify.com/episode/0Mmqc9hETV1yrgxgvv8rHk?si=MxqQzImoR2W0k6W7AvM9pg

Apple podcast: https://podcasts.apple.com/us/podcast/predicting-future-of-the-planet-with-j-doyne-farmer/id1641776894?i=1000731754638

YouTube music: https://music.youtube.com/watch?v=i7T-1m7s2rY&si=OANPQABq3CgX6znI

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Apple podcast: https://podcasts.apple.com/us/podcast/reason-with-science/id1641776894

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