Complexity Economics

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Let me declare that I am no expert but  those responsible for policy, legislation and regulation have no excuses.

“Classical” economic theory is based upon concepts such as rational decisions and stable equilibrium whereas, unless I am making a complete idiot of myself, REAL economic systems do not achieve “static equilibrium” and are inherently unstable. As for rational…I’ll leave you to make up your own mind!

So, whilst there is a huge industry dedicated to financial prediction of one sort or another I can’t help wondering WHY!?

I am not comfortable with the thought of nations or Corporations wasting money in trying to predict the future but the chances of my voice (even though not entirely alone) making any difference are about as long as the chances of some highly paid economists or quants accurately predicting the economic future. So the best that I can do is attempt to educate and assist those businesses whose leaders no longer trust financial or political institutions, question the practice or recognise the sheer folly of such exercises!

It’s a dirty job but someone’s gotta do it and I feel compelled to give it my best shot!!!

Getting my head round complexity has only reinforced my belief that investing in prevention and getting “Fit for randomness” is the most sensible strategy in the face of risk and uncertainty (whether natural or man-made). Quantitative Complexity Management, from Ontonix, enables a business to measure and manage the internal interdependencies and external inter-connectedness of its company ecosystem. We extend the “risk horizon” into areas of (epistemic) uncertainty and, in doing so: Read more of this post

Gifted leaders ask What if questions in 10 (brain compatible) ways that:

  1. Show genuine openness to hear, learn and grow from another’s wisdom.
  2. Offer respect and concern to the person asked.
  3. Draw out talent from people, by showcasing what they do well.
  4. Offer another person the chance to shine by the expected answer
  5. Indicate a curiosity that carves out a pathway for the answer to build forward
  6. Come clothed in humility that only those who ask and listen can possess
  7. Hold no bias and instead show openness to learn and grow together.
  8. Inspire others to wait around to hear the exciting responses triggered.
  9. Communicate with tone that creates space for a genuine answer
  10. Build goodwill among those who may disagree by answers offered.

What if questions may ratchet up leadership skills, but they tend to be harder to ask than most people recognise. Would you agree?

From: Brain Leaders and Learners