Complexity Digest 2008.43 - 01.02
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Market Failure: Interdependence in Action, NECSI Headlines
Excerpt: Today we wake up to remarkable uncertainty--market crash or market recovery. How is it that the seemingly unstoppable economic engine of the US is so susceptible to uncertainty and failure? (...)
The source for these problems is in interdependence--the increasingly strong web of connections between people and organizations. Everyone knows that we are connected to each other, locally and globally. It is surprising, therefore, that this is not part of our economic policy, planning, or investment.
- Source: Market Failure: Interdependence in Action
[ http://www.necsi.edu/headlines/market.html ], Yaneer Bar-Yam, New England Complex Systems Institute Headlines, 2008/10/03