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    Artwork for COMPLEXITY
    Episode

    W. Brian Arthur on Economics in Nouns and Verbs (Part 1)

    COMPLEXITY · Sep 24, 2021 · 52 min
    Episode page

    What is the economy? People used to tell stories about the exchange of goods and services in terms of flows and processes — but over the last few hundred years, economic theory veered toward measuring discrete amounts of objects. Why? The change has less to do with the objective nature of economies and more to do with what tools theorists had available. And scientific instruments — be they…

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